IronFX Daily Commentary by Sakis Paraskevov | 19/08/2016
August 19, 2016 7:57 am
Fed’s Williams joins the “hawkish” side • The dollar’s retreat was halted yesterday, following some “hawkish” remarks from San Francisco Fed President John Williams. • He said he’d like to see another hike “sooner rather than later” and that September should definitely be in play, echoing Dudley’s remarks. • Williams is considered a close ally of Yellen’s, so these may be an indication of what we should expect from her next week. • If we see more Fed speakers join this hawkish chorus, USD could remain supported ahead of Yellen’s speech.
Today, CAD is in focus: • Canada: CPI data for July. Headline rate is exp. to slow, core rate to remain unchanged. Retail sales for Jun. are also due out and the forecast is for a rise. Net-net, we believe the market may focus more on a slowdown in the CPI, which could reverse some of CAD’s recent gains.
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Fed’s Williams joins the “hawkish” side
• The dollar’s retreat was halted yesterday, following some “hawkish” remarks from San Francisco Fed President John Williams.
• He said he’d like to see another hike “sooner rather than later” and that September should definitely be in play, echoing Dudley’s remarks.
• Williams is considered a close ally of Yellen’s, so these may be an indication of what we should expect from her next week.
• If we see more Fed speakers join this hawkish chorus, USD could remain supported ahead of Yellen’s speech.
Today, CAD is in focus:
• Canada: CPI data for July. Headline rate is exp. to slow, core rate to remain unchanged. Retail sales for Jun. are also due out and the forecast is for a rise. Net-net, we believe the market may focus more on a slowdown in the CPI, which could reverse some of CAD’s recent gains.
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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