Daily Alert: Tuesday 14th February 2017

Mark NugentDaily Alert, Feb 2017

Forex Analysis for Tuesday 14th February 2017

Chinese CPI exceeded expectations (2.5% vs 2.4%).

US Senate confirmed Steven Mnuchin as Treasury Secretary by 53-47 vote, while US President Trump stated that the new Treasury Secretary will fight for middle class tax reductions and manufacturing jobs. (Newswires)

Early today, UK CPI y/y missed at 1.8% vs 1.9%. Core CPI y/y also missed (1.6% vs 1.7%).

The USD gapped up and made a small gain yesterday and US equities continued to rise. The GBP moved up as did UK equities. The EUR had a down day and the JPY weakened ever so slightly, moving the Japan 225 up a little bit. So all 4 major currencies were in line with my fundamental analysis.

Mnuchin confirmed as US Treasury Secretary

Later today, Fed Chair Yellen is due to testify on the Semiannual Monetary Policy Report before the Senate Banking Committee, in Washington DC.

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