Daily Alert: Friday 7th April 2017

Mark NugentApril 2017, Daily Alert

Forex Analysis for Friday 7th April 2017

Economic Calendar

Thursday:

The ECB’s president Draghi has communicated to the market in no uncertain terms that the current policy stance is not yet ready to be altered. The rates market was getting ahead of itself once again, and this was seen to be a threat to the fledgling recovery, with inflation already stalling.

The US conduct a missile strike on Syria after the latter’s chemical attack on civilians.

Market Reaction

The market operated normally for most of Thursday before the US strike on Syria caused risk-off sentiment to dominate. The USD rose as did US and European equity indices. Notably, the FTSE250 is at all-time highs. The Japan 225 made attempts to reach new short-term lows but was rebuffed by buyers. Oil and gold rise in times of strife as is their wont. The US 10 Year lanquishes at short-term lows around 2.3%. The currency markets are quiet with the EUR down on Draghi’s remarks.

News Media

Nothing of fundamental economic importance.

Today’s Calendar

In the US we have Average Hourly Earnings and Non-Farm Employment Change.

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