Forex Analysis for Wednesday 12th July 2017
Fed’s Harker (Voter, Hawk) said slowing inflation gives him pause on raising rates. Would like to start halting reinvestment and see how the market reacts and then consider the third hike. (Newswires)
Fed’s Brainard (Voter, Dove) said she seen balance sheet reduction as appropriate soon, which will happen over several years. (Newswires)
Trump’s son’s Russian connections are causing concern.
The USD drops to the bottom of its current range. Equities are within their channels, although the FTSE250 makes a breakout down this morning. Oil bounced off support and rises last night after a large drawdown reported by API. The EUR finally breaks free of resistance and the GBP breaks through support to the downside.
GBP Average Earnings. CAD Overnight Rate, Rate Statement and Monetary Policy Report. Fed Chair Yellen due to testify on the Semiannual Monetary Policy Report before the House Financial Services Committee, in Washington DC.
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