IronFX Daily Commentary by Sakis Paraskevov | 14/03/2016
March 14, 2016 9:40 am
PBoC says no excessive stimulus is needed • PBoC Governor said that unless there is a big economic shock, no excessive policy easing is needed to achieve the growth target. • CSI 300 is up 1.6%, despite a slowdown in retail sales and industrial output data for Jan. & Feb. • The improved risk sentiment could cause AUD & NZD to add to their recent gains.
Today: • Eurozone: Industrial production for Jan. is exp. to rise. • Speakers: ECB Governing Council member Francois Villeroy de Galhau.
This week: • Tuesday: BoJ policy meeting. The Bank is exp. to remain on hold. RBA releases minutes of March meeting and US retail sales for Feb. • Wednesday: FOMC rate decision. The Fed is almost certain to remain on hold, so the focus will shift on the updated forecasts, which we exp. to be revised down. US CPI for Feb. is exp. to have slowed. Also, UK employment report for Jan. • Thursday: SNB policy meeting. We believe the Bank is likely to hold its fire. Norges Bank rate decision, where the Bank is expected to cut rates, but we believe it will remain on hold. BoE policy meeting as well. Bank is exp. to remain on hold, so focus will be on the votes and minutes. • Friday: BoJ releases minutes of January’s meeting and Canada’s CPI for Feb. is exp. to have slowed.
PBoC says no excessive stimulus is needed
• PBoC Governor said that unless there is a big economic shock, no excessive policy easing is needed to achieve the growth target.
• CSI 300 is up 1.6%, despite a slowdown in retail sales and industrial output data for Jan. & Feb.
• The improved risk sentiment could cause AUD & NZD to add to their recent gains.
Today:
• Eurozone: Industrial production for Jan. is exp. to rise.
• Speakers: ECB Governing Council member Francois Villeroy de Galhau.
This week:
• Tuesday: BoJ policy meeting. The Bank is exp. to remain on hold. RBA releases minutes of March meeting and US retail sales for Feb.
• Wednesday: FOMC rate decision. The Fed is almost certain to remain on hold, so the focus will shift on the updated forecasts, which we exp. to be revised down. US CPI for Feb. is exp. to have slowed. Also, UK employment report for Jan.
• Thursday: SNB policy meeting. We believe the Bank is likely to hold its fire. Norges Bank rate decision, where the Bank is expected to cut rates, but we believe it will remain on hold. BoE policy meeting as well. Bank is exp. to remain on hold, so focus will be on the votes and minutes.
• Friday: BoJ releases minutes of January’s meeting and Canada’s CPI for Feb. is exp. to have slowed.
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