IronFX Daily Commentary by Sakis Paraskevov | 12/02/2016
February 12, 2016 9:58 am
RBA Governor plays down financial market turmoil • RBA Gov. Stevens said that financial markets have now chosen to focus on issues that have been there all along. • The RBA is unlikely to raise rates soon. But it may cut some more.
Global stocks continue to slide • European, US and Japanese stock markets continued to post significant losses. • The risk-off environment continues, fueled by concerns about the global outlook. • Safe havens could gain even more, as there are no signs of a change in sentiment.
Today: • Germany: Prel. Q4 GDP is exp. to grow at the same pace as Q3. Also, the final CPI for January is exp. to confirm the prel. estimate. Market reaction could be limited. • Eurozone: Prel. Q4 GDP is exp. to grow at the same pace as in Q3. Also, industrial production for Dec. • US: Retail sales for Jan. are exp. to rise after a fall in Dec. This could prove USD-positive. Prel. U of M consumer sentiment for Feb. as well. • Speakers: New York Fed President William Dudley and Dallas Fed President Steven Kaplan.
RBA Governor plays down financial market turmoil
• RBA Gov. Stevens said that financial markets have now chosen to focus on issues that have been there all along.
• The RBA is unlikely to raise rates soon. But it may cut some more.
Global stocks continue to slide
• European, US and Japanese stock markets continued to post significant losses.
• The risk-off environment continues, fueled by concerns about the global outlook.
• Safe havens could gain even more, as there are no signs of a change in sentiment.
Today:
• Germany: Prel. Q4 GDP is exp. to grow at the same pace as Q3. Also, the final CPI for January is exp. to confirm the prel. estimate. Market reaction could be limited.
• Eurozone: Prel. Q4 GDP is exp. to grow at the same pace as in Q3. Also, industrial production for Dec.
• US: Retail sales for Jan. are exp. to rise after a fall in Dec. This could prove USD-positive. Prel. U of M consumer sentiment for Feb. as well.
• Speakers: New York Fed President William Dudley and Dallas Fed President Steven Kaplan.
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