Wednesday March 15, 2017 - 19:47:45 GMT
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Forex Trading Ideas For Thursday 16 March 2017
Pre-Opening Trading Ideas for 16 Mar 2017
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WEEKLY Forex Economic Calendar:
16 Mar Thu
03:00 JP- BOJ Decision
08:30 CH- SNB Decision
12:00 GB- BOE Decision
13:30 US- Weekly Jobless
13:30 US- Housing Starts/Permits
17 Mar Fri
14:15 US- Industrial Production
15:00 US- Univ of Mich (prelim)
- The Fed did not surprise anyone Wednesday when it raised its Fed Funds target by 25bps to a new range of 0.75-1.00%. Chair Yellen's rate hike signal could not have been clearer just over a week ago. Her current goal is gradually to "normalize" monetary policy as smoothly as possible as excessive ease is gradually taken out of the system. As for future rate hikes, their estimates are for a Fed Funds rate at 1.40% at yearend and 2.40% at the end of 2018. That is roughly unchanged from a quarter ago. Markets are well on their way to pricing in a June rate hike.
- Thursday sees three central bank meetings, the Bank of Japan, the Swiss National Bank and the Bank of England. All are expected to keep rates unchanged. The SNB is likely to express concern about the overvaluation of the Swiss franc and the BOE could start to lay the groundwork for a U.K. rate hike.
- Results from Dutch national elections are due shortly. Because of the structure of their political system it is almost certain that the next government will be a multi-party coalition that does not favor an EU exit. It could take a whilr to cobble together a new government.
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