IronFX Daily Commentary by Sakis Paraskevov | 27/05/2016
May 27, 2016 8:30 am
• Fed Chair Yellen to set the tone on hikes • Given the “hawkish” comments by FOMC members, Yellen’s speech will set the tone for the likelihood of near-term hikes. • Her last appearance was very dovish, but we expect a more neutral tone today. • Likely to indicate a June hike is still in play, as global risks have subsided and data for Q2 are encouraging. • Something like that could prove USD-positive, but our base-case scenario remains September or December.
• Today:
• US: 2nd estimates of GDP and core PCE deflator, both for Q1. GDP is exp. to be revised up, which could support USD ahead of Yellen’s speech. • Speakers: Besides Yellen and any comments by the G7 leaders, we have no other speakers.
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• Fed Chair Yellen to set the tone on hikes
• Given the “hawkish” comments by FOMC members, Yellen’s speech will set the tone for the likelihood of near-term hikes.
• Her last appearance was very dovish, but we expect a more neutral tone today.
• Likely to indicate a June hike is still in play, as global risks have subsided and data for Q2 are encouraging.
• Something like that could prove USD-positive, but our base-case scenario remains September or December.
• Today:
• US: 2nd estimates of GDP and core PCE deflator, both for Q1. GDP is exp. to be revised up, which could support USD ahead of Yellen’s speech.
• Speakers: Besides Yellen and any comments by the G7 leaders, we have no other speakers.
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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