IronFX Daily Commentary by Sakis Paraskevov | 27/04/2016
April 27, 2016 7:54 am
FOMC: Opening the door for June? • Fed is widely expected to stand pat. No press conference or updated forecasts, so the action will come from the meeting statement. • We expect officials to take a neutral stance, so reaction in USD may be limited. • But if they change language and sound more optimistic, the dollar could surge.
BoJ to raise its stimulus dose • We expect the BoJ to ease policy further by expanding its QQE program. • This could weaken the yen and support Japanese stocks, but any such reaction may remain short-lived.
RBNZ likely to take the sidelines for now • RBNZ is likely to stand pat amid an improving inflation rate (and a rate cut in Mar.) • This could push NZD/USD higher following the decision.
Overnight: AUD plunges on soft inflation data • AUD/USD fell more than 100 pips after inflation slowed in Q1. • AUD could stay under selling pressure as this raises the odds for more RBA easing.
Today: • UK: 1st estimate of Q1 GDP is exp. to slow, which could prove GBP-negative.
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FOMC: Opening the door for June?
• Fed is widely expected to stand pat. No press conference or updated forecasts, so the action will come from the meeting statement.
• We expect officials to take a neutral stance, so reaction in USD may be limited.
• But if they change language and sound more optimistic, the dollar could surge.
BoJ to raise its stimulus dose
• We expect the BoJ to ease policy further by expanding its QQE program.
• This could weaken the yen and support Japanese stocks, but any such reaction may remain short-lived.
RBNZ likely to take the sidelines for now
• RBNZ is likely to stand pat amid an improving inflation rate (and a rate cut in Mar.)
• This could push NZD/USD higher following the decision.
Overnight: AUD plunges on soft inflation data
• AUD/USD fell more than 100 pips after inflation slowed in Q1.
• AUD could stay under selling pressure as this raises the odds for more RBA easing.
Today:
• UK: 1st estimate of Q1 GDP is exp. to slow, which could prove GBP-negative.
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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