Daily Alert: Friday 25th November 2016

Mark Nugent Daily Alert, Nov 2016

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Forex Analysis for Friday 25th November 2016
Economic Calendar

German Ifo Business Climate came in as expected (110.4 vs 110.6). A horrible CPI number from Japan, in line with expectation but still horrible: Tokyo Core CPI y/y (-0.4% vs -0.4%), the eleventh consecutive deflationary number.

Market Reaction

US Thanksgiving results in a subdued market. Us equities continue to grind up as the USD hits a new 18 year high and the Dow30 hits a new all-time high. UK and Euro50 consolidate. Japan225 gaps down but moves up to regain the loss as the JPY weakens yet more. WTI holds its position just below USD48/bbl and the CAD holds its position at resistance. The GBP trends upwards as the Brexit timelines move ever further into the future.

Media

Brexit may take decades so give the GBP a rest say investorsxit-may-take-decade-so-give-the-pound-a-rest-investors-say

Today

Other than Second Estimate GDP q/q in the UK, there is no Tier I data today.

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