Daily Alert: Thursday 15th September 2016

Mark NugentDaily Alert, Sept 2016

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Forex Analysis for Thursday 15th September 2016
Economic Calendar

UK Average Earnings 3m/y came in strongly at 2.3% vs expectation of 2.1%. In the US, Crude oil inventories declined by 0.6M barrels vs an expectation of an increase of 2.8M barrels. New Zealand GDP missed at 0.9% (1.1% expected).

Market Reaction

All western bourses gapped up and then moved and closed down on the day. Oil moves down to the 200 MA line. The CAD had its 7th consecutive down day and this continues into today. NZD actually rises despite the poor GDP number. GBP continues to respect the resistance line. JPY flat. Bonds take a breather from their uptrend in yield.

Media

Nothing of note.

Today

We have the third major UK announcement of the week: Retail Sales m/m. Then, at lunchtime, the Bank of England gives us Super Thursday with a rate decision, statement, QE update and all sorts of stuff. After that we have US Retail Sales.

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