IronFX Daily Commentary by Sakis Paraskevov | 28/04/2016
April 28, 2016 8:46 am
FOMC: No signals for June • Fed stood pat and indicated that global risks subsided lately. USD strengthened. • But USD quickly gave back the gains, as officials send no signals for a June hike. • Focus now turns to incoming US data to determine the dollar’s near-term direction.
BoJ shocks by standing pat • BoJ remained on hold, shocking investors that expected fresh stimulus measures. • USD/JPY plunged 300 pips on the news. The Nikkei 225 is down 2.2%. • Yen may strengthen further near-term, until speculation for more easing arises.
RBNZ on hold, strengthens call for weak NZD • RBNZ stood pat as expected, said that a weaker Kiwi is desirable. • But NZD/USD rose 100 pips, as some investors expected a rate cut. • Next data to determine NZD/USD direction are inflation expectations (due 17th May).
Today: • Germany: Unempl. rate and prel. CPI, both for Apr. Could prove EUR-negative. • US: Prel. Q1 GDP is exp. to slow, core PCE deflator to accelerate. Net-net, focus may be on the PCE, which may support USD at the release. • Speakers: BoJ Governor Haruhiko Kuroda and UK Chancellor George Osborne.
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FOMC: No signals for June
• Fed stood pat and indicated that global risks subsided lately. USD strengthened.
• But USD quickly gave back the gains, as officials send no signals for a June hike.
• Focus now turns to incoming US data to determine the dollar’s near-term direction.
BoJ shocks by standing pat
• BoJ remained on hold, shocking investors that expected fresh stimulus measures.
• USD/JPY plunged 300 pips on the news. The Nikkei 225 is down 2.2%.
• Yen may strengthen further near-term, until speculation for more easing arises.
RBNZ on hold, strengthens call for weak NZD
• RBNZ stood pat as expected, said that a weaker Kiwi is desirable.
• But NZD/USD rose 100 pips, as some investors expected a rate cut.
• Next data to determine NZD/USD direction are inflation expectations (due 17th May).
Today:
• Germany: Unempl. rate and prel. CPI, both for Apr. Could prove EUR-negative.
• US: Prel. Q1 GDP is exp. to slow, core PCE deflator to accelerate. Net-net, focus may be on the PCE, which may support USD at the release.
• Speakers: BoJ Governor Haruhiko Kuroda and UK Chancellor George Osborne.
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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