Daily Alert: Friday 19th August 2016

Mark Nugent Aug 2016, Daily Alert

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Economic Calendar

UK Retail Sales exceeded expectations at 1.4% vs 0.1%. In the US, the Philly Fed Manufacturing Index came in at 2.0 vs forecast 1.4 and Unemployment claims were slightly lower than expectation.

Market Reaction

US stock markets continue sideways. The Euro50 approaches resistance on the way down. Japan falls and Hong Kong rises. Not strongly risk on or off, simply quiet. WTI rises for the sixth consecutive day, heading towards resistance around 51.90.

Media

Nothing new of interest except two pieces about how traders think, HERE and HERE.

Forex Indexes

The USD is strongly down on the week due to Fed dovishness. The Euro rises above its short-term resistance. The AUD falls to support, a breakthrough of which will be significant.

Today

A quiet calendar today with Canadian Core CPI and Core Retail Sales later this afternoon.

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