IronFX Daily Commentary by Sakis Paraskevov | 02/11/2016
November 2, 2016 9:39 am
FOMC policy decision: Waiting for December? • FOMC almost certain to keep borrowing costs unchanged today. • All the market action will come from the language in the meeting statement. • We expect the FOMC to signal that a rate hike is imminent, preparing markets for Dec. • Such “hawkish” language could reverse some of the dollar’s recent losses on the news.
Equities slide, safe havens rally as Trump gains momentum • Markets turned their focus back to the US election race yesterday. • Polls show that Clinton’s lead is shrinking. Outcome now almost too-close-to-call. • US stocks, USD and MXN slumped, while gold & JPY rallied due to this uncertainty. • Markets to remain focused on incoming polls as we approach Election Day (8th Nov.). • If the polls remain this close, or tighten further, expect similar market reactions.
Today: • France, Germany & Eurozone: Final manufacturing PMIs for Oct. • UK: Construction PMI for Oct. is exp. to decline. This could hurt GBP. • US: ADP employment report for Oct. is exp. to show another month of solid employment gains. If so, it could raise speculation for a solid NFP figure too, and support USD.
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FOMC policy decision: Waiting for December?
• FOMC almost certain to keep borrowing costs unchanged today.
• All the market action will come from the language in the meeting statement.
• We expect the FOMC to signal that a rate hike is imminent, preparing markets for Dec.
• Such “hawkish” language could reverse some of the dollar’s recent losses on the news.
Equities slide, safe havens rally as Trump gains momentum
• Markets turned their focus back to the US election race yesterday.
• Polls show that Clinton’s lead is shrinking. Outcome now almost too-close-to-call.
• US stocks, USD and MXN slumped, while gold & JPY rallied due to this uncertainty.
• Markets to remain focused on incoming polls as we approach Election Day (8th Nov.).
• If the polls remain this close, or tighten further, expect similar market reactions.
Today:
• France, Germany & Eurozone: Final manufacturing PMIs for Oct.
• UK: Construction PMI for Oct. is exp. to decline. This could hurt GBP.
• US: ADP employment report for Oct. is exp. to show another month of solid employment gains. If so, it could raise speculation for a solid NFP figure too, and support USD.
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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