Daily Alert: Friday 19th May 2017

Mark Nugent Daily Alert, May 2017

Forex Analysis for Friday 19th May 2017

Economic Calendar

Thursday: Prelim GDP in Japan beat expectation (0.5% vs 0.4%). In Australia, both Employment Change and Unemployment Rate exceeded expectations. UK Retail Sales came in at 2.3% vs 1.2% expectation and the prior number was revised up to -1.4% from -1.8%.

Market Reaction

The USD index picked itself up off the floor and although the S&P500 gapped up and was volatile during the day, it closed at the open, unchanged. This broad behaviour was repeated across the globe. Oil moves to resistance (and through it this morning). The US 10 Year was unmoved. So I’d say the risk sentiment is slightly more positive than on Wednesday. The JPY weakened and the GBP was flat, despite the good Retail Sales number. The EUR came down and touched the resistance zone before closing just above it. Commodity currencies stayed near their respective support areas.

News Media

Nothing new.

Today’s Calendar

CAD CPI and Core Retail Sales.

[mepr-hide if=”loggedin”]

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.

[/mepr-hide]

[mepr-show if=”loggedin”]


Here is your Daily Alert video. Trade talk starts at 5:40.

You can download the video HERE. If it starts to play in your browser, right click on it and select “save video as” or similar and it will download to your machine.


There is an archive of all VIP Club member’s content on the VIP Club page.

[/mepr-show]