IronFX Daily Commentary by Marios Hadjikyriacos | 26/05/2017

Oil prices drop on a “buy the rumor, sell the fact” trade • OPEC and non-OPEC producers agreed to extend their output-cut deal by 9 months, at the previous volume of 1.8mbpd. • Despite the producers reaching an accord, oil prices dropped in the aftermath of the event. • This looks like a “buy the […]

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IronFX Daily Commentary by Marios Hadjikyriacos | 25/05/2017

OPEC and non-OPEC meeting: Extension, deeper cuts, or both? • The Saudi and Russian energy ministers said they have agreed to a 9-month extension. • Considering that many other Oil ministers have also expressed their support for 9 months, we think that most (if not all) of the good news are already priced into oil. […]

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IronFX Daily Commentary by Marios Hadjikyriacos | 24/05/2017

Is the Bank of Canada going to shift to a dovish bias? • BoC is expected to stand pat (14:00 GMT). Focus will be on the language of the statement. • The key message we got at the last meeting was that data are improving, but the Bank was still very worried about the trade […]

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IronFX Daily Commentary by Marios Hadjikyriacos | 23/05/2017

Euro climbs further after Merkel says it’s “too weak” • EUR extended its recent gains yesterday, following some remarks from German Chancellor Merkel. • Speaking about the causes of Germany’s large trade surplus, she said that one of the reasons is that the euro is “too weak”, due to the ECB’s policy. • Even though […]

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IronFX Daily Commentary by Charalambos Pissouros | 19/05/2017

Dollar carnage pauses; but is it over? • USD rebounds helped by a video clip of former FBI Director Comey, saying that he wasn’t pressured to end an investigation. • However, the market looks to have rushed into conclusions. • He was asked if someone at the Dep. of Justice or the Attorney General had […]

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IronFX Daily Commentary by Charalambos Pissouros | 18/05/2017

USD carnage continues; spills over to equities • The dollar continued to collapse yesterday, amid heightened uncertainty on the US political front. • The recent reports suggesting President Trump attempted to interfere with an FBI investigation have weighed on risk sentiment. • Evident by the surge in safe haven assets (GOLD, JPY, CHF) and the […]

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IronFX Daily Commentary by Charalambos Pissouros | 17/05/2017

Greenback continues to slip amid political turmoil • USD continued to decline yesterday, amid renewed political turmoil in Washington. • Media reports suggest Trump asked former FBI Director Comey to end an investigation regarding ties between Trump’s prior security advisor and Russia. • This may have raised a lot of questions (and thus uncertainty) for […]

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IronFX Daily Commentary by Charalambos Pissouros | 16/05/2017

RBA minutes pack few surprises • Overnight, the minutes of the latest RBA meeting were very similar to the statement. • Nothing to suggest there may be any policy action anytime soon. • This is consistent with our view that the Bank is likely to remain on hold in the foreseeable future. • Most noteworthy […]

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IronFX Daily Commentary by Charalambos Pissouros | 15/05/2017

Saudi Arabia and Russia agree to extend Oil deal into 2018 • Oil surged today, following news that Saudi and Russia agreed to extend the oil output cut deal until March 2018, a 9-month extension. • No changes in the volume of the cuts, just the time period. With only 10 days to go until […]

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easyMarkets – Discover Trading – Psychology Pt1

More info: http://www.EasyMarkets.com Life is like a rollercoaster, with its many ups and downs. Ext: Stock footage, show charts moving up and buzz of the stock market. Trading is a similar ride. When we go through either one of these two experiences we find ourselves going through a range of emotions, from excitement to fear, […]

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IronFX Daily Commentary by Charalambos Pissouros | 11/05/2017

Sterling consolidates ahead of BoE’s “Super Thursday” • Besides the rate decision and the minutes, we also get the Inflation Report with updated economic forecasts, and a press conference by Governor Carney. • The forecast is for the BoE to remain on hold. The tone of the minutes may be slightly more worried than previously, […]

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IronFX Daily Commentary by Charalambos Pissouros | 10/05/2017

RBNZ set to stand pat, may shift to a more upbeat tone • The RBNZ is widely expected to take no action today (21:00 GMT). • At the latest policy meeting the Bank kept the door opening for further easing. • But data have improved drastically since then (CPI, unemployment, inflation expectations). • Even though […]

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IronFX Daily Commentary by Charalambos Pissouros | 09/05/2017

Saudi Arabia says the November Oil deal can be extended beyond 2017 • The Saudi oil minister said that the oil deal could be extended for more than 6 months. • There seems to be an unofficial consensus among producers that the deal will be extended for at least 6 months. • Thus, bullish signals […]

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IronFX Daily Commentary by Charalambos Pissouros | 08/05/2017

Macron becomes the new President of France • Macron won by 66% to Le Pen’s 34%. EUR opened with a small positive gap. • But quickly gave back its gains to trade even lower in the following hours. • Despite the pullback, we think EUR’s short-term path is higher. • With political risks dissipating, focus […]

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IronFX Daily Commentary by Charalambos Pissouros | 05/05/2017

Will the US jobs report amplify speculation for a June hike further? • Nonfarm payrolls are expected 185k (12:30 GMT). The forecast is supported by the ADP print (177k). • Earnings are expected to have accelerated, but the unemployment rate to have ticked up. • Despite a potential uptick in the unemployment rate, this looks […]

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IronFX Daily Commentary by Charalambos Pissouros | 04/05/2017

FOMC remains on hold; views growth slowdown as “transitory” • The Fed kept its policy unchanged. The statement was neutral, and very similar to the prior one. • Most noteworthy point was that it views the slowdown in Q1 GDP growth as transitory. • USD gained on the news, as the prospect of a June […]

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IronFX Daily Commentary by Charalambos Pissouros | 03/05/2017

FOMC: Will they pave the way for a June hike? • The FOMC is widely expected to keep borrowing costs unchanged today (18:00 GMT). • No forecasts or press conference, so market action may come from the language of the statement. • Economic data are mixed since the last meeting. Importantly, core inflation slowed down. […]

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IronFX Daily Commentary by Charalambos Pissouros | 02/05/2017

RBA stands pat, appears slightly more upbeat • The RBA remained on hold. The accompanying statement was neutral overall, and very similar to the previous one. • The most noteworthy change was in the assessment of the labor market. Officials did not appear as concerned about it as they did last time. • Perhaps due […]

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IronFX Daily Commentary by Charalambos Pissouros | 01/05/2017

• RBA set to remain on hold; could shift to a more upbeat tone • Rate decision during the Asian morning Tuesday. Expected to take no action. • Economic data have improved since the latest gathering, where the Bank appeared worried. • As such, the tone of the accompanying statement may be more upbeat. If […]

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IronFX Daily Commentary by Charalambos Pissouros | 27/04/2017

ECB meeting: Not ready to change tune yet • ECB is widely expected to stand pat today. Focus will probably be on Draghi’s press conference. • He is likely to maintain a cautious tone, offering no hints regarding a reduction in stimulus yet. • May instead point to still-low inflation (political risks have still not […]

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IronFX Daily Commentary by Charalambos Pissouros | 26/04/2017

US President Trump to unveil an outline of his tax plan • Trump pledged massive tax cuts for corporations & individuals, and a one-time repatriation of corporate cash held abroad at a reduced rate. • If we get something along those lines today, it could prove positive for USD & US equities. • However, our […]

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IronFX Daily Commentary by Charalambos Pissouros | 25/04/2017

CAD slips after US imposes tariffs on Canadian softwood lumber • CAD tumbled against USD during the Asian morning Tuesday. • The Trump administration announced it will impose a 20% tariff on Canadian softwood lumber as a response to “unfair” wood subsidies by Canada. • This comes ahead of talks to renegotiate NAFTA during the […]

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IronFX Daily Commentary by Charalambos Pissouros | 24/04/2017

French election: Macron and Le Pen advance to the second round • EUR opened with a positive gap against its major peers this week, as Macron and Le Pen advanced to the 2nd round of the French election. • Since Macron is leading Le Pen in practically every poll for the 2nd round, investors likely […]

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IronFX Daily Commentary by Charalambos Pissouros | 21/04/2017

French elections: Round 1 • On Sunday, French people are called to elect their President. According to the polls, no candidate gathers majority, so a second round is scheduled on the 7th of May. • Given the latest increase in support for Melenchon (EU-sceptic), a run-off between him and Le Pen seems to be the […]

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IronFX Daily Commentary by Charalambos Pissouros | 20/04/2017

• New Zealand’s inflation accelerates above RBNZ’s target midpoint • NZD strengthened after New Zealand’s CPI rate surged to +2.2% yoy in Q1 from +1.3% yoy in Q4. • Although this was due to temporary effects, a CPI measure excluding those effects showed inflation at 1.5% yoy, which is still within the Bank’s target range. […]

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IronFX Daily Commentary by Charalambos Pissouros | 19/04/2017

UK Prime Minister calls for snap election • Yesterday, UK PM May called an early election for June 8th . • The move aims at strengthening her hand going into the UK-EU divorce negotiations. • In order to hold an election, she must gather support of 2/3 in the parliament (Vote scheduled today) • The […]

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IronFX Daily Commentary by Charalambos Pissouros | 18/04/2017

RBA minutes reflect the meeting statement • Overnight, the RBA minutes were more or less in line with the meeting statement. • They noted that some labor market indicators have softened recently. • Also, the measures with regards to lending could ease financial stability risks. • This suggests that the Bank may be more flexible […]

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IronFX Daily Commentary by Marios Hadjikyriacos | 14/04/2017

• Turkey’s constitutional referendum: Too close to call? • On Sunday, Turkish citizens will head to the polls to vote on constitutional changes. • These changes would turn Turkey from a parliamentary to a presidential republic, and could greatly expand the powers of President Erdogan. • Opinion polls suggest that “yes” is more likely, but […]

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IronFX Daily Commentary by Marios Hadjikyriacos | 13/04/2017

Trump vs US dollar: Round 3 • USD crashed yesterday, after US President Trump jawboned the currency once again. • He said the dollar is “getting too strong”. He added he would prefer the Fed to keep rates low. • This is a major turnaround in rhetoric (pre-election: the Fed is keeping rates too low!). […]

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IronFX Daily Commentary by Marios Hadjikyriacos | 12/04/2017

BoC meeting: Still dovish despite progress in economic data? • The Bank is expected to remain on hold. Focus will be on the statement & press conference. • The BoC has maintained a concerned tone in most of its recent communications. • Mainly because it wants to avoid triggering a surge in the Loonie by […]

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