Daily Alert: Friday 21st April 2017

Mark NugentApril 2017, Daily Alert

Forex Analysis for Friday 21st April 2017

Economic Calendar

US Treasury Secretary Mnuchin stated that ‘we are close to bring forward major tax reform’. US Office of Management and Budget Director Mulvaney said the budget will include USD 200bln for infrastructure spending. Otherwise it was a very quiet financial news day.

There was a terror attack in Paris, killing a policeman.

Market Reaction

There was a modest return to risk-on sentiment with a late rally from an otherwise down USD. All US equities saw gains. The US 10 Year yield rose for the second day. UK equities showed little movement but the Euro50 and Japan 225 climbed above support. Oil was down slightly and gold was static. In currencies the JPY weaskened, there was little direction in either EUR or GBP and the AUD rose on reports of a 7% increase in iron ore futures.

News Media

Market doubts three Fed hikes this year

Today’s Calendar

GBP Retail Sales; CAD CPI. First round of french election: Sunday 23rd April.

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