#Goodmorning from #IronFX! Here are the #IronFX main points for today by Marshall Gittler: • #Currencies little changed in quiet trading – #CAD only #G10 #currency to gain on #USD in modest rebound after Friday’s fall – #NZD, #JPY and #GBP were lower vs #USD. Other G10 currencies largely unchanged – #Commodity prices showing more volatility, especially agricultural commodities • #RBA minutes show no significant change in view, as expected – AUD/USD unchanged from Monday’s opening after RBA minutes • #BoJ keeps stance unchanged – USD/JPY modestly higher, but that move came during early US trading – Still expects core inflation to hit 1.9%; I doubt it, as wages are still rising less than prices. So I think the only way they can hit their target is by weakening the yen • Today: – #Eurozone: German #ZEW survey for July expected to be lower; could add to recent signs of a slowdown, weaken #EUR marginally – UK: CPI forecast to have accelerated slightly in June but remain below the Bank of England’s 2% target. – US: Fed Chair Janet #Yellen gives the first of her two days’ testimony to Congress. Watch for her views on whether inflation is rising or data are just “noisy,” also any hints about the timing of the next rate hike. Indicators: retail sales for June expected to rise
Posted on: Tue, 15 Jul 2014 05:49:18 +0000
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