IronFX Daily Commentary by Sakis Paraskevov | 17/08/2016
August 17, 2016 8:48 am
“Hawkish” Fed talk boosts the dollar • USD rallied yesterday despite disappointing CPI data, following some “hawkish” remarks from NY Fed President William Dudley. • He said that we are getting closer to a hike, which may come as early as Sept. • Fed’s Lockhart echoed his comments, saying at least 1 hike is warranted this year.
FOMC July meeting minutes in focus • Focus now turns to the FOMC minutes to determine the dollar’s near-term direction. • The meeting statement was upbeat: “near-term risks to the economic outlook have diminished”. • An account of an optimistic Committee in the minutes could raise the likelihood for a hike this year and thereby may support USD.
Today’s indicators: • UK: Employment report for Jun. but given that these are pre-referendum data, the reaction in GBP could remain limited, unless we have notable surprises.
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“Hawkish” Fed talk boosts the dollar
• USD rallied yesterday despite disappointing CPI data, following some “hawkish” remarks from NY Fed President William Dudley.
• He said that we are getting closer to a hike, which may come as early as Sept.
• Fed’s Lockhart echoed his comments, saying at least 1 hike is warranted this year.
FOMC July meeting minutes in focus
• Focus now turns to the FOMC minutes to determine the dollar’s near-term direction.
• The meeting statement was upbeat: “near-term risks to the economic outlook have diminished”.
• An account of an optimistic Committee in the minutes could raise the likelihood for a hike this year and thereby may support USD.
Today’s indicators:
• UK: Employment report for Jun. but given that these are pre-referendum data, the reaction in GBP could remain limited, unless we have notable surprises.
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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