Author: IronFX
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Fed on hold, ‘monitoring’ global economy • The Fed remained on hold yesterday, while officials noted they are “closely monitoring” global developments. • The FOMC hint of concerns lowered a bit the likelihood for a March rate hike. USD weakened on the news. RBNZ also holds its fire but signals further easing • The Reserve Bank of New Zealand kept rates unchanged, but signaled that further easing may be needed. • NZD plunged on the news and given that the Bank said that a weaker currency is needed, this could keep NZD under selling interest. Today: • Sweden: Unemployment rate and retail sales, both for December. Unemployment rate is forecast to rise, while retail sales to fall. SEK could weaken on the news. • UK: Preliminary Q4 GDP is exp. 0.5% vs prev. 0.4%. Given the soft data from UK, a possible disappointment could bring GBP under renewed selling pressure. • Germany: The preliminary CPI rate for January is forecast to rise. This may support EUR a bit. • Eurozone: Final consumer confidence for January. • US: Durable goods orders for December are expected to fall, which could cause the dollar to weaken, at least temporarily. Also, initial jobless claims for week ended Jan. 22nd and pending home sales for December. Speakers: ECB Governing Council member Jens Weidmann. Join us for more technical and fundamental analysis: http://bit.ly/176O18w To get the latest Forex trading news you should: • Download the IronFX Research app : http://www.ironfx.com/en/trading-tools/mobile-apps • Like us on Facebook: https://www.facebook.com/IronFX • Follow us on Twitter: https://twitter.com/IronFXGlobal • Circle us on Google+: https://www.google.com/+Ironfxglobal • Subscribe to our Channel: http://bit.ly/1foFmCU