IronFX Daily Commentary by Sakis Paraskevov _ 26/10/2015
October 26, 2015 11:06 am
Main points for Today
• China’s ruling Communist Party opened a key four day meeting • Following the soft GDP data for Q3, China’s central bank cut interest rates for the 6th time this year. Investors focus now shifts if the GDP target will be reduced to around 6.5%. • Today: • Germany: Ifo survey for October. Expectations are for all three Ifo Indices to decline, this could weaken EUR. • US: New home sales for September. Following the improvement in housing data recently, another strong reading could boost USD. • Speakers: ECB Executive Board Member Yves Mersch speaks. • This week: • Tuesday: UK GDP for Q3. The forecast is for the growth to have slowed a bit, but a positive surprise could be looming. • Wednesday: FOMC meeting: Focus will be on the statement accompanying the decision and if the majority of Fed officials still wants to hike this year. RBNZ: China’s slowdown keep inflationary pressures in NZ weak and could prompt the RBNZ to act again. • Thursday: Germany’s preliminary CPI rate for October. US 1st estimate of Q3 GDP is expected to show a significant slowdown. • Friday: Bank of Japan monetary policy meeting. BoJ also releases its new long-term projections for growth and inflation. It is expected to cut outlook for both slightly, but could refrain from adding fresh stimulus. As for indicators, we get Eurozone’s preliminary CPI rate for October and US personal income and personal spending for September.
Main points for Today
• China’s ruling Communist Party opened a key four day meeting
• Following the soft GDP data for Q3, China’s central bank cut interest rates for the 6th time this year. Investors focus now shifts if the GDP target will be reduced to around 6.5%.
• Today:
• Germany: Ifo survey for October. Expectations are for all three Ifo Indices to decline, this could weaken EUR.
• US: New home sales for September. Following the improvement in housing data recently, another strong reading could boost USD.
• Speakers: ECB Executive Board Member Yves Mersch speaks.
• This week:
• Tuesday: UK GDP for Q3. The forecast is for the growth to have slowed a bit, but a positive surprise could be looming.
• Wednesday: FOMC meeting: Focus will be on the statement accompanying the decision and if the majority of Fed officials still wants to hike this year. RBNZ: China’s slowdown keep inflationary pressures in NZ weak and could prompt the RBNZ to act again.
• Thursday: Germany’s preliminary CPI rate for October. US 1st estimate of Q3 GDP is expected to show a significant slowdown.
• Friday: Bank of Japan monetary policy meeting. BoJ also releases its new long-term projections for growth and inflation. It is expected to cut outlook for both slightly, but could refrain from adding fresh stimulus. As for indicators, we get Eurozone’s preliminary CPI rate for October and US personal income and personal spending for September.
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