IronFX Daily Commentary by Sakis Paraskevov | 26/05/2016
May 26, 2016 7:59 am
• BoC stands pat, remains neutral • The BoC remained on hold and sounded neutral, disappointing investors who expected a dovish shift in language. • Loonie strengthened on the news and continued higher in the following hours. • Given the Bank’s neutral stance and that many of the oil sands are restarting production, we could see CAD extend these gains. • But as Canadian production comes back online, it could reverse some of the recent gains in oil prices.
• Today: • Sweden: Consumer and manufacturing confidence indices for May. • UK: 2nd revision of Q1 GDP is exp. to confirm the prel. estimate, which could keep the reaction in GBP muted. • US: Durable goods orders for Apr. Expectations are mixed, thus any reaction in USD may remain limited. Also, initial jobless claims for week ended May 20. • G7: Two-day summit of G7 leaders in Japan, but any FX remarks seem unlikely. • Speakers: Expect for any potential comments by G7 leaders, Fed Board Governor Jerome Powell speaks.
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• BoC stands pat, remains neutral
• The BoC remained on hold and sounded neutral, disappointing investors who expected a dovish shift in language.
• Loonie strengthened on the news and continued higher in the following hours.
• Given the Bank’s neutral stance and that many of the oil sands are restarting production, we could see CAD extend these gains.
• But as Canadian production comes back online, it could reverse some of the recent gains in oil prices.
• Today:
• Sweden: Consumer and manufacturing confidence indices for May.
• UK: 2nd revision of Q1 GDP is exp. to confirm the prel. estimate, which could keep the reaction in GBP muted.
• US: Durable goods orders for Apr. Expectations are mixed, thus any reaction in USD may remain limited. Also, initial jobless claims for week ended May 20.
• G7: Two-day summit of G7 leaders in Japan, but any FX remarks seem unlikely.
• Speakers: Expect for any potential comments by G7 leaders, Fed Board Governor Jerome Powell speaks.
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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