Daily Alert: Tuesday 24th January 2017

Mark NugentDaily Alert, Jan 2017

Forex Analysis for Tuesday 24th January 2017

The USD remains weak after Trump’s inauguration last Friday. Yesterday, US Treasury Secretary designate Mnuchin warned that excessive USD strength could be negative in the short term. Yields on US 10 Year Treasuries are down since the inauguration. The US equity position is better with highs being maintained. Both UK indices approach their 50MAs from the upside. The Euro50 remains flat and the Japan225 sits at the 50MA. On the currency markets, the JPY and GBP continue to stregnthen.

Early Today (Tuesday) sees the UK courts decide that legislation is required to trigger Article 50 and begin the process of leaving the EU, rather than a simple decison by ministers. The GBP was unperturbed.

There is little market moving news today.

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