IronFX Daily Commentary by Marios Hadjikyriacos | 21/12/2016
December 21, 2016 9:23 am
Riksbank decision: QE extension on the agenda • The forecast is for the Riksbank to keep its policy rate unchanged. • We share this view, but we expect the Bank to extend the duration of its QE program as well. • Inflation is below the Bank’s own forecasts, so expect a very dovish tone in the statement. • In case of such dovish signals, USD/SEK could surge.
Theresa May supports a transitional period after “Brexit” • UK PM May signaled that she supports an adjustment period after 2019, in order to make “Brexit” easier on businesses. • Reaction in GBP was limited, as Chancellor Hammond expressed a similar view last week. • But the PM’s confirmation is important in our view, as it eases some uncertainty around the UK’s future negotiating position.
Today: • Norway: AKU unemployment rate for Oct. is exp. to have held steady. • Eurozone: Prel. consumer confidence index for Dec. • US: Existing home sales for Nov. are exp. to decline.
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Riksbank decision: QE extension on the agenda
• The forecast is for the Riksbank to keep its policy rate unchanged.
• We share this view, but we expect the Bank to extend the duration of its QE program as well.
• Inflation is below the Bank’s own forecasts, so expect a very dovish tone in the statement.
• In case of such dovish signals, USD/SEK could surge.
Theresa May supports a transitional period after “Brexit”
• UK PM May signaled that she supports an adjustment period after 2019, in order to make “Brexit” easier on businesses.
• Reaction in GBP was limited, as Chancellor Hammond expressed a similar view last week.
• But the PM’s confirmation is important in our view, as it eases some uncertainty around the UK’s future negotiating position.
Today:
• Norway: AKU unemployment rate for Oct. is exp. to have held steady.
• Eurozone: Prel. consumer confidence index for Dec.
• US: Existing home sales for Nov. are exp. to decline.
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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