IronFX Daily Commentary by Sakis Paraskevov | 18/08/2016
August 18, 2016 8:11 am
FOMC keeps its options open but dollar slumps • In the July minutes, the FOMC kept the door open for a rate hike as soon as Sept. • However, most officials did not want to commit to anything until more data validated a rate move. • Considering that data have been mixed lately, this suggests that the Fed may wait even longer before raising rates again. • The result was a weaker dollar. Next major risk event for USD: Chair Yellen’s speech at the Jackson Hole symposium next week.
Today: • UK: Retail sales for July. This will be the first indicator of consumer demand post-Brexit, so it could determine GBP’s near-term direction. The forecast is for a modest rise, which could support GBP somewhat at the release. • Eurozone: Final CPI for Jul. and current account balance for Jun. • US: Philly Fed index for Aug. and initial jobless claims for the week end Aug.12th. • Speakers: NY Fed President William Dudley and San Francisco Fed President John Williams.
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FOMC keeps its options open but dollar slumps
• In the July minutes, the FOMC kept the door open for a rate hike as soon as Sept.
• However, most officials did not want to commit to anything until more data validated a rate move.
• Considering that data have been mixed lately, this suggests that the Fed may wait even longer before raising rates again.
• The result was a weaker dollar. Next major risk event for USD: Chair Yellen’s speech at the Jackson Hole symposium next week.
Today:
• UK: Retail sales for July. This will be the first indicator of consumer demand post-Brexit, so it could determine GBP’s near-term direction. The forecast is for a modest rise, which could support GBP somewhat at the release.
• Eurozone: Final CPI for Jul. and current account balance for Jun.
• US: Philly Fed index for Aug. and initial jobless claims for the week end Aug.12th.
• Speakers: NY Fed President William Dudley and San Francisco Fed President John Williams.
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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