Daily Alert: Friday 30th September 2016

Mark NugentDaily Alert, Sept 2016

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Forex Analysis for Friday 30th September 2016
Economic Calendar

Thursday saw US Final GDP q/q beating expectation (1.4% vs 1.3%).

Friday morning sees Tokyo CPI y/y missing (-0.5% vs -0.4%).

Market Reaction

Equities down around the globe on banking concerns. German 10 year bonds drop to -0.117% yield nearing all-time lows. UK and US yields are showing a similar pattern of dropping yields over the last two weeks or so. Oil moves up again after the partial production cap agreed on Wednesday afternoon in Algiers.

On the currency markets, movement week-to-date has been very slight, frustrating my trading plan.

Media

The media is all about banks: the ongoing Deutsche Bank crisis, hedge funds pulling out and the bank now worth about as much as the fine the US Justice Department is seeking: USD14b. German bank Commerzbank is also struggling. In the US there is the ongoing issue with Wells Fargo.

Today

Friday sees UK Current Account and Canadian GDP.

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