Daily Alert: Tuesday 13th June 2017

Mark Nugent Daily Alert, June 2017

Forex Analysis for Tuesday 13th June 2017

Economic Calendar

UK CPI beats expectation at 2.9% vs 2.7%.

BoC’s Wilkins said the BoC is to assess if less stimulus is needed as growth continues and commented that Q1 growth figures are “pretty impressive”.

Market Reaction

Sentiment is cautious/risk-off. The USD remains rangebound. The FAAMG issue continues to drive the Nasdaq down as it bounced off the 50MA intraday. WTI bounces off support but with little momentum. Gold drops. JPY strengthened but today is weakening. The GBP continues down but today is reversing. CAD is buoyed by the central banker’s statement detailed above and the good employment number on Friday. AUD and CAD remain indecisive.

News Media

FAAMG tech stocks cause Nasdaq drop
FANG dead long live FAAMG

Today’s Calendar

Nothing of note.

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