Daily Alert: Tuesday 20th December 2016

Mark NugentDaily Alert, Dec 2016

Forex Analysis for Tuesday 20th December 2016
Economic Calendar

BoJ kept its bank rate unchanged at -0.1% as expected and maintained its target for the 10yr JGB yield at around 0% which was seen as negative for the JPY. The decision to maintain policy was conducted by 7-2 vote with Sato and Kiuchi as the dissenters, while the BoJ also raised its economic assessment for the 1st time in 18 months as it stated that the economy is likely to turn to a moderate expansion (Newswires).

RBA minutes from December 6th meeting stated that reducing rates further could carry risks for debt that outweighed any economic benefit but also added that domestic data has not been that encouraging (Newswires).

Fed’s Yellen, (Voter, Soft Dove) stated that the US job market is strongest in nearly a decade and indicates wage growth is picking up (Newswires).

A truck ploughed in to crowds in an attack in Berlin which resulted in at least 12 dead and 50 injured. German politicians have been unwilling to call the deadly crash a terrorist attack at this stage. (BBC)

Russian ambassador to Turkey Andrey Karlov died after being shot in Ankara, with the shooter being a police officer who referred to Aleppo as he shot the ambassador. (Newswires)

Market Reaction

The USD consolidates at all-time highs as do US equities. The general direction of most global equities is upwards. WTI continues to consolidate. The JPY strengthens yesterday but then weakens on the BoJ news. The GBP, EUR and CAD consolidate.

Media

Nothing not mentioned above.

Today

No major news today.

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