Forex Analysis for Friday 30th June 2017
US Final GDP beat expectation (1.4% vs 1.2%).
Early today – Tokyo Core CPI missed at 0.0% vs expectation of 0.2%.
The USD continues to drop and there is a huge sell-off in technology stocks in the US. Global equities follow suit. This is probably quarter-end profit taking. Oil is flat and gold down. The US 10 Year is up as bonds sell off. The JPY continued to weaken yesterday, hitting the near-term high intraday. The EUR seems to be consolidating at resistance and the GBP hits resistance. I would not say we are risk off as the JPY weakened and money is clearly moving out of bonds (yield up).
UK Current Account; UK Final GDP; US Core PCE Price Index
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