IronFX Daily Commentary by Sakis Paraskevov | 16/08/2016
August 16, 2016 8:42 am
RBA August minutes: Upbeat despite the rate cut • The RBA minutes were positive on the prospects of GDP growth and there were no hints that rates may be cut again this year. • AUD/USD traded choppy after the release but continued higher in the following hours. • Given the absence of an easing bias by the Bank, AUD could remain resilient. • Higher yields than most G10 countries could keep it supported, though much will depend on overall risk sentiment. • Next major release for AUD are unemployment data on Thursday (exp. to be solid).
Today: • UK: CPI rate for Jul. is exp. to remain unchanged. We see some upside risks to the forecast, for the rate to rise, supported by the pound’s recent depreciation. • Germany: ZEW survey for Aug. Both indices are exp. to have ticked up, something that could support EUR on the news. • US: CPI rate for Jul. is exp. to have held steady. Core CPI is exp. to slow somewhat, but the reaction in USD may remain limited. Also, building permits and industrial output, both for Jul.
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RBA August minutes: Upbeat despite the rate cut
• The RBA minutes were positive on the prospects of GDP growth and there were no hints that rates may be cut again this year.
• AUD/USD traded choppy after the release but continued higher in the following hours.
• Given the absence of an easing bias by the Bank, AUD could remain resilient.
• Higher yields than most G10 countries could keep it supported, though much will depend on overall risk sentiment.
• Next major release for AUD are unemployment data on Thursday (exp. to be solid).
Today:
• UK: CPI rate for Jul. is exp. to remain unchanged. We see some upside risks to the forecast, for the rate to rise, supported by the pound’s recent depreciation.
• Germany: ZEW survey for Aug. Both indices are exp. to have ticked up, something that could support EUR on the news.
• US: CPI rate for Jul. is exp. to have held steady. Core CPI is exp. to slow somewhat, but the reaction in USD may remain limited. Also, building permits and industrial output, both for Jul.
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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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