Daily Alert: Friday 2nd June 2017

Mark NugentDaily Alert, June 2017

Forex Analysis for Friday 1st June 2017

Economic Calendar

Thursday: UK Manufacturing PMI was on track at 56.7 vs 56.5.

In the US, ADP Non-Farm was very good: 253K vs 181K.

US President Trump confirmed that the US is to withdraw from the Paris Climate Agreement and will begin negotiations to enter a new accord or re-enter the Paris accord on terms fair to the US. (Newswires)

Market Reaction

The market turns risk-on after Trump announces the US withdrawal from the Paris Climate Agreement. Global equity indices are up around the world and gap up overnight. Oil drops as does gold. US 10 Year yields are flat. The USD rises and the JPY weakens on safe-haven outflows. The GBP continues to rise. AUD continues to drive down past support/resistance.

News Media

Trump withdraws from Paris Climate Agreement

Today’s Calendar

US Average Hourly Earnings and Non-Farm Employment.

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