Daily Alert: Thursday 17th November 2016

Mark NugentDaily Alert, Nov 2016

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Forex Analysis for Friday 17th November 2016
Economic Calendar

Yesterday (Wednesday) saw UK Average Earnings Index 3m/y meet expectations at 2.3%. There are calls for fiscal stimulus from Japanese cabinet advisor Fuji and from two Fed members (Harker and Kashkari).

Market Reaction

US equities are mixed with the S&P500 and Dow30 essentially consolidating and the Dow30 making a bit of a comeback and advancing through the 50MA. The UK indices remain within their respective 50MA and 200MA lines. The Euro50 closes below the 200MA for the first time in 2 weeks. WTI sits between the 200MA and 100MA. The USD has its 8th consecutive up day and the Euro it’s eight consecutive down day. The JPY pauses in its weakening cycle and the GBP continues to consolidate. The CAD remains bullish and the other two commodity currencies consolidate.

Media

A primer on the dollar’s surge

Today

UK Retail Sales. US headline and Core CPI. US Fed Chair Yellen testifies before the Joint Economic Committee in Washington DC.

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