Daily Alert: Friday 16th December 2016

Mark NugentDaily Alert, Dec 2016

Forex Analysis for Friday 16th December 2016
Economic Calendar

UK Retail Sales on track (0.2% vs 0.2%). Bank of England kept rates at 0.25% the Asset Purchase Facility at GBP435b. Both votes were unanimous. BoE Governor Carney says it is still likely that the Bank will overshoot its CPI target later in 2017 and it has limited tolerance for above-target CPI. US Headline and Core CPI m/m met expectations at 0.2%.

Market Reaction

The USD index continues to rise as US equities consolidate. The UK FTSE100, Euro50 and Japan225 all rise as oil remains static on Thursday but down on the week after Monday’s gap up. The EUR is down reaching a 13 year low vs the USD. The JPY continues to weaken and the GBP has been in a tight channel for 2 weeks. The CAD is flat on the week.

Media

Central banks hand off growth baton

Today

There is no significant news today.

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