February 5, 2018

IronFX, Main Points of the Day: Inter-Korean talks, German Coalition and more!

IronFX provides traders with the full daily market analysis! Check out the Main Points of the day!

This article is originally referred from IronFX News.

German Coalition talks to continue

  • German parties SPD,CDU,CSU neared forming a coalition as a deal was struck on the thorny issue of immigration.
  • Also a deal was struck on the energy issue and the next issues to be discussed will be labour policy and health care.
  • Discussions are to draw to a closure by Sunday and the final deal is expected to be set up for vote by SPD members.
  • As discussions progress and more progress is made, we expect the EUR to strengthen as political stability will emerge.

Hopes grow for inter-Korean talks

  • Hopes grow for inter-Korean talks as North Koreas ceremonial leader will visit South Korea this week.
  • South Korean prime minister mentioned to US president that good momentum in inter-Korean relationships could continue.
  • Trump on the other hand, agreed that North Koreas participation in the winter Olympics could result in “something good”.
  • Overall, as inter Korean relationships improve we could see the JPY strengthening as political instability for the region is removed as a factor.

Today’s other economic highlights:

  • Eurozone: Markit Comp. Final PMI for January, Survey:58.6, Prior:58.6, 09:00(GMT), neutral to positive to EUR.
  • UK: Markit/CIPS Services PMI for January, Survey:54.0 Prior:54.2 09:30(GMT),neutral to negative for GBP.
  • US: ISM Non Manufacturing PMI for January Survey:56.3 Prior:55.9, 15:00 (GMT), positive for USD.
  • US: Jerome Powell is sworn as chairman of the Fed.

The week ahead:

  • On Tuesday early in the Asian morning we get the RBA interest decision. Bank is expected to remain on hold at +1.50% (probabilities 98.9% according to AUDOIS). Also we get New Zealands unemployment rate for Q4.
  • On Wednesday we late in the US session RBNZ’s interest rate decision. The bank is expected to remain on hold at +1.75% (probabilities 99.88% according to NZDOIS)
  • On Thursday during the European morning we get BoE’s interest rate decision. Bank is expected to remain on hold at +0.5% (probabilities 96.87% according to GBPOIS)

Check out the full report by IronFX today!

IronFX’s Report: Main Points of the Day

Original Source: IronFX News

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