Daily Alert: Friday 2nd December 2016

Mark NugentDaily Alert, Dec 2016

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Forex Analysis for Friday 2nd December 2016
Economic Calendar

UK Manufacturing PMI missed (53.4 vs 54.4). US ISM Manufacturing PMI came in strong (53.2 vs 52.1). Early today (Friday) we have had Australian Retail Sales m/m at 0.5% vs an expectation of 0.3%.

Market Reaction

The Bloomberg USD index continues its consolidation. The JPY grinds upwards (weakens) and the EUR and GBP also rise. WTI has risen by USD5.6/bbl to yesterday’s close of USD51.3/bbl and is currently sitting at resistance. The CAD index continues upwards on the oil price.

Media

OPEC deal hinged on 2am phone call

Today

UK Construction PMI and then in the US we have Non-Farm Payroll and Average Hourly Earnings.

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