Daily Alert: Friday 28th October 2016

Mark NugentDaily Alert, Oct 2016

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Forex Analysis for Friday 28th October 2016
Economic Calendar

Thursday was another relatively quiet day. UK Preliminary GDP q/q beat expectations (0.54% vs 0.3%). It was reported elsewhere that Nissan had decided to base new car production in its existing UK facilities. Friday morning sees Tokyo Core CPI y/y beat expectation (-0.4% vs -0.5%) ahead of next Tuesday’s BoJ meeting.

Market Reaction

US equities are a bit soft and the UK was mixed with the FTSE100 up and the FTSE250 moving below the 50MA. The Japan 225 equity index has been rising all week as the JPY weakened, ahead of Tuesday’s BoJ meeting. The USD maintains the 7-month high. The EUR moved back towards support. The GBP remains within a very tight channel. AUD and NZD continue sideways. WTI continues sideways.

Media

Bank of England’s Mark Carney prepares his own Brexit

Today

Later today we have advance GDP q/q in the US.

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