Daily Alert: Friday 11th November 2016

Mark NugentDaily Alert, Nov 2016

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Forex Analysis for Friday 11th November 2016
Economic Calendar

Thursday saw US Unemployment Claims at 254K vs expectation of 267K.

Market Reaction

Markets continued to digest the implications of the new Trump presidency. The banking sector was up as it is believed the post-crash Dodd-Frank Act regulating banks will be dismantled. The IT sector performed poorly as it is reliant on imported labour and global trade. This caused different outcomes across the US equity indices: The S&P500 was flat; the Dow30 was up and the Nasdaq down. The FTSE100 and Euro50 were both down. Oil consolidates below the MA50. The USD and the JPY were up slightly. The GBP was bought and saw a 5-week high.

Media

Japan shuts down its monetary lab

Today

Today is quiet with University of Michigan Consumer Sentiment being the main event.

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