Daily Alert: Thursday 8th June 2017

Mark Nugent Daily Alert, June 2017

Forex Analysis for Thursday 8th June 2017

Economic Calendar

Crude oil inventories rose by 3.3m barrels vs an expectation of a drawdown of 3.1m barrels.

Former FBI Director Comey’s prepared statement was deemed less detrimental than some had feared.

Market Reaction

The USD and US equities are static. Oil drops on the inventory build. UK equities drop before the election as the outcome is not certain, although a Conservative victory is the more likely. The JPY is trending in the strengthening direction. The GBP is consolidating but was up yesterday and so far today. NZD grinds upwards on the positive economic outlook and the high interest rate.

News Media

Jitters on UK stock market
UK vote shock may boost long term GBP outlook

Today’s Calendar

UK Election; EUR Minimum Bid Rate and Press Conference; Former FBI Director Comey’s Testimony before the SIC.

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