Daily Alert: Friday 23rd September 2016

Mark NugentDaily Alert, Sept 2016

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Forex Analysis for Friday 23rd September 2016
Economic Calendar

Yesterday was a very quiet day with the speeches made by Draghi and Carney barely troubling the media.

Market Reaction

Stock markets up on the week all around the world. Oil rising but range-bound. JPY showing a bit of weakness towards the end of the week. NZD weakens after RBNZ warning of further rate reductions.

Media

Bloomberg – OPEC Under pressure to cap production as previous oversupply of 400,000 barrels per day increases to 1.2m surplus barrels per day as Russia production reaches all-time high and Libya and Nigeria restore disrupted supplies.

BoE Governor Carney calls for governments to play role in recovery: “long-run prosperity was never in the gift of monetary policy makers.” Similar message from UBS Chairman Axel Weber on CNBC.

Today

Later today we see Core CPI and Core Retail Sales in Canada.

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