#Goodmorning from #IronFX Hope you have a great day! Here are the #IronFX main points for today: • #RBNZ raises #OCR to 3.25% from 3.0% – Repeats that #economy has “considerable momentum”. Says that “Inflationary pressures are expected to increase. In this environment, it is important that inflation expectations remain contained and that interest rates return to a more neutral level” – #NZD the main gainer among the #G10 currencies • #GBP higher after #unemployment rate declined more than expected – Unemployment rate for April declined to 6.6% from 6.8%; Est. 6.7% – Average weekly earnings slowed to +0.7% yoy from +1.9% yoy, falling short of inflation – With no signs that the labor market is a source of inflationary pressure, the BoE could retain on hold until well into next year. • #AUD virtually unchanged after Australia’s employment data – Unemployment rate for May remained unchanged at 5.8% – Employment change unexpectedly falls; April’s figure was revised down. • Today: – #Europe: #Eurozone’s industrial production for April is forecast to improve. ECB’s monthly report. – US: retail sales for April are expected to have improved. Initial #jobless claims to drive the 4wk moving average lower. USD-positive news. Speakers: BoE Gov. Carney and Chancellor of the Exchequer George Osborne will speak at an event. #BoC Gov. Poloz holds a press conference after the Bank’s Financial System Review.
Posted on: Thu, 12 Jun 2014 06:08:14 +0000
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