IronFX Daily Commentary by Marios Hadjikyriacos | 02/12/2016
December 2, 2016 9:14 am
Politics take center stage again: Italian referendum • Italians will vote on Sunday on a referendum aimed at accelerating reforms and making Italian governments more stable. • A “yes” outcome could prove EUR-positive, and support Eurozone banking stocks. • A “no” vote may negatively impact EUR and bank stocks. Betting odds 78% for No.
NFP to seal the deal for a December Fed hike • NFP is exp. to rise 174k. Very strong ADP and low initial jobless claims = risks skewed to the upside. • Unemployment rate is exp. unchanged, avg earnings to slow somewhat. • This seems like another solid jobs report overall, which could prove USD-positive.
As for the rest of today’s highlights: • UK: Construction PMI for Nov. is exp. to decline a bit, which could hurt GBP. • Canada: Jobs data for Nov. as well. Exp. to be soft overall. Given that the NFP and the Canadian data are release at the same time, USD/CAD could surge. • Speakers: Dallas Fed President Robert Kaplan and Cleveland Fed President Loretta Mester.
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Politics take center stage again: Italian referendum
• Italians will vote on Sunday on a referendum aimed at accelerating reforms and making Italian governments more stable.
• A “yes” outcome could prove EUR-positive, and support Eurozone banking stocks.
• A “no” vote may negatively impact EUR and bank stocks. Betting odds 78% for No.
NFP to seal the deal for a December Fed hike
• NFP is exp. to rise 174k. Very strong ADP and low initial jobless claims = risks skewed to the upside.
• Unemployment rate is exp. unchanged, avg earnings to slow somewhat.
• This seems like another solid jobs report overall, which could prove USD-positive.
As for the rest of today’s highlights:
• UK: Construction PMI for Nov. is exp. to decline a bit, which could hurt GBP.
• Canada: Jobs data for Nov. as well. Exp. to be soft overall. Given that the NFP and the Canadian data are release at the same time, USD/CAD could surge.
• Speakers: Dallas Fed President Robert Kaplan and Cleveland Fed President Loretta Mester.
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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