Daily Alert: Tuesday 28th March 2017

Mark NugentDaily Alert, March 2017

Forex Analysis for Tuesday 28th March 2017

Economic Calendar

Monday was a very light day. The ECB continue to paint a more neutral picture: Weidmann said the ECB are not yet seeing sustainable price growth, but would like to see less expansionary monetary policy.

Market Reaction

The negative USD and equities sentiment did not last long. The USD gapped down and continued down but most of the loss was reversed, ending the day only slightly below the open. Equities mostly gapped down but ended up rising on the day but not quite closing the gap. US 10-year Treasuries followed the same pattern: down then up to end near the start, producing a candle with a large lower wick. Oil consolidates and gold moves up. The EUR and GBP continued to show strength with the JPY essentially static. The commodity currencies all fell in tandem.

Today’s Calendar

Today is another light day on the economic calendar.

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