Daily Alert: Tuesday 25th July 2017

Mark NugentDaily Alert, July 2017

Forex Analysis for Tuesday 25th July 2017

Economic Calendar

ECB’s Mersch stated monetary accommodation is still needed and ongoing expansion in the euro area offers confidence. Mersch also stated that risks to the euro area growth may be to the upside and that headline inflation is dampened by weak energy prices, but added that underlying inflation is to rise gradually. (Newswires)

BoJ minutes from June 15th – 16th meeting stated that members agreed policy needs to be keep easy as price target is still distant. The minutes also reiterated that financial conditions were highly accommodative and that Japan’s economy has been turning towards a moderate expansion. (Newswires)

Market Reaction

There was a lack of Tier I data yesterday. US equities were mixed with the Nasdaq closing at yet another all-time highs. Both UK indices were down significantly although moving up this morning. The Euro50 and Dax30 started down yesterday on the auto-makers cartel issue but buyers won out and both closed slightly up. Oil is range-bound and gold takes a breather on an upwards trajectory. There is little movement on the currency market due to the absence of Tier I data.

News Media

Alphabet sales fall short

Today’s Calendar

Nothing.

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