Daily Alert: Tuesday 12th September 2017

Mark NugentDaily Alert, Sept 2017

Forex Analysis for Tuesday 12th September 2017

Monday started risk on as the North Koreans failed to conduct another missile test to commemorate their Founding Day (9th Sept) and the damage estimate form Hurricane Irma was reduced from USD200B to USD49B.

Equities gapped up and moved up. Gold gapped down and moved down. The USD rose as did the GBP, continuing Friday’s breakout up through resistance. The JPY weakening significantly. The US 10 Year yield moved up, erasing all of last week’s losses. Classic risk on behaviour.

In the UK, parliament passed the Brexit Bill.

Last night, due to the very clear risk-on sentiment I placed longs on GBPJPY and Japan225 and a short on Gold.

This morning, GBP Headline CPI beat expectation at 2.9% vs an expectation of 2.8%. Core CPI also beat expectation ( 2.7% vs 2.5%).

Tomorrow we have GBP Average Earnings.

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