Daily Alert: Tuesday 5th September 2017

Mark NugentDaily Alert, Sept 2017

Forex Analysis for Tuesday 5th September 2017

The hangover from the weekend’s North Korean H-Bomb test continues, with a cautious tone, not helped by yesterday’s US Labour Day holiday and reports of the North Koreans preparing an ICBM launch in the next few days. Most major equity indices have yet to recover from Monday’s gap down. The JPY strengthens to reflect the risk-off tone.

On the calendar, the Reserve Bank of Australia kept rates at 1.5% as expected. The Bank did say that a rise in AUD would lead to slower economic growth, however the very small fall in AUD that this induced was soon reversed. In the UK Services PMI was on target at 53.2.

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