Forex Analysis for Friday 25th November 2016
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.
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.
Other than Second Estimate GDP q/q in the UK, there is no Tier I data today.
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.
Here is your Daily Alert video. I start to discuss the trades at 4:20.
There is an archive of all VIP Club member’s content on the VIP Club page.