Daily Alert: Wednesday 12th April 2017

Mark NugentApril 2017, Daily Alert

Forex Analysis for Wednesday 12th April 2017

Economic Calendar

Tuesday: BoJ Governor Kuroda stated BoJ easing is not targeting an FX level and that JPY weakness could help inflation reach target quicker. Kuroda further stated that he sees no problem with asset purchases or expansion of monetary base. (Newswires)

Wednesday: Chinese CPI missed at 0.9% vs 1.1% expected. UK Average Earnings beat expectation at 2.3% (2.1% expected).

Market Reaction

Sentiment is risk-off. The USD drops, US equities are flat, oil and gold rise and the US 10 Year yield drops below support. Just to confirm, the JPY strengthens. The EUR, AUD and NZD all break support to the downside.

News Media

Melenchon crashes front runners party as French vote risks rise

Today’s Calendar

Later to day we have Canadian Rate Statement and Monetary Policy Report

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