Forex Analysis for Friday 16th December 2016
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%.
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.
There is no significant news today.
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 4:10.
There is an archive of all VIP Club member’s content on the VIP Club page.