join ironfx below link: https://ironfx/en/register?utm_source=632110&utm_medium=ib_link&utm_campaign=IB #Goodmorning from #IronFX. Here are the #IronFX main points for today by Marshall Gittler: • US spending sluggish, inflation rising, FOMC members worried – Personal spending up only +0.2% mom in May vs expected +0.4% – PCE deflator +1.8% yoy, up from +1.6% as expected – Lacker “expecting inflation to firm,” Bullard says “inflation is picking up now” – Market expects first hike in Fed Funds around next Sep/Oct; as this is brought forward, I expect USD to firm • Japan inflation rising, spending & incomes falling – Japan’s CPI rose more than expected in May as hike in consumption tax fed through – But household spending collapsed even more than in April; also base wages fell for the 23rd consecutive month – BoJ can’t loosen further while inflation is above its target, but erosion of purchasing power bodes ill for the economy = JPY could strengthen further • NZD up as trade surplus rises more than expected – Other commodity currencies (AUD and CAD) also higher • Today: – Eurozone: Preliminary German CPI for June expected to accelerate slightly from May; further reduce likelihood of more action at next week’s ECB meeting = EUR-positive – US: final U of M consumer confidence to be released
Posted on: Fri, 27 Jun 2014 06:09:43 +0000
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