Forex Analysis for Friday 14th October 2016
Thursday saw US Unemployment Claims beat expectations (246K vs 252K) and Crude Oil Inventories rose surprisingly by 4.9M barrels vs an expectation of 0.4M barrels.
This morning, Friday, sees Chinese CPI y/y beating expectation (1.9% vs 1.6%) and PPI also surprised to the upside.
In equities the US gap down on Thursday’s open was largely reversed. Oil moved back up and continued this morning. This and the good China news have buoyed the commodity currencies. The GBP has stabilised, EUR is having a bad week and JPY continues its up/down movement at resistance. The USD is having a strong week.
There is little of note.
Today will bring US headline and Core Retail Sales and speeches by Carney and Yellen.
VIP Club members please [mepr-login-link] to access your Daily Alert video.
For VIP Club members, this commentary is augmented with a short daily video where I discuss the trades I am in and the opportunities for tomorrow. If you would like a free one month trial to the VIP Club you can find out more HERE.
Here is your Daily Alert video. I start to discuss the trades at 4:35.
There is an archive of all VIP Club member’s content on the VIP Club page.