IronFX Daily Commentary by Charalambos Pissouros | 30/09/2016
September 30, 2016 8:43 am
Concerns over large European banks lead to risk aversion • Worries regarding the health of big European banks led market moves yesterday. • Gold, JPY, CHF and USD all came under buying pressure, while US stocks slid. • We could see this environment of risk aversion continue for a while in the absence of news.
Yen trades in a rollercoaster fashion • But JPY gave back yesterday’s gains during the Asian session today. • Could have been due to former US Treasury Secretary Summers saying the BoJ may be interested in buying foreign stocks.
Today’s highlights: • Germany: Retail sales for Aug. are exp. to decline. • UK: Final GDP and the current account balance for Q2. As these are pre-referendum data, they are likely to attract less attention. Reaction in GBP may be limited. • Eurozone: Prel. CPI for Sep. is exp. to accelerate. The forecast is supported by a similar acceleration in Germany’s CPI. This could support the EUR. Also, unempl. rate for Aug. • US: Personal income & spending for Aug. are both exp. to slow. These could hurt USD. Also, core PCE price index for Aug. and Chicago PMI for Sep. • Speakers: Dallas Fed President Robert Kaplan.
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Concerns over large European banks lead to risk aversion
• Worries regarding the health of big European banks led market moves yesterday.
• Gold, JPY, CHF and USD all came under buying pressure, while US stocks slid.
• We could see this environment of risk aversion continue for a while in the absence of news.
Yen trades in a rollercoaster fashion
• But JPY gave back yesterday’s gains during the Asian session today.
• Could have been due to former US Treasury Secretary Summers saying the BoJ may be interested in buying foreign stocks.
Today’s highlights:
• Germany: Retail sales for Aug. are exp. to decline.
• UK: Final GDP and the current account balance for Q2. As these are pre-referendum data, they are likely to attract less attention. Reaction in GBP may be limited.
• Eurozone: Prel. CPI for Sep. is exp. to accelerate. The forecast is supported by a similar acceleration in Germany’s CPI. This could support the EUR. Also, unempl. rate for Aug.
• US: Personal income & spending for Aug. are both exp. to slow. These could hurt USD. Also, core PCE price index for Aug. and Chicago PMI for Sep.
• Speakers: Dallas Fed President Robert Kaplan.
Join us for more technical and fundamental analysis: http://www.ironfx.com
To get the latest Forex trading news you should:
• Download the IronFX Research app: http://goo.gl/jhQIxO
• Like us on Facebook: https://www.facebook.com/IronFX
• Follow us on Instagram: https://www.instagram.com/ironfx
• Follow us on LinkedIn: https://goo.gl/wSEbPN
• Follow us on Twitter: https://twitter.com/IronFXGlobal
• Circle us on Google+: https://www.google.com/+Ironfxglobal
• Subscribe to our Channel: http://bit.ly/1foFmCU
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