Daily Alert: Wednesday 13th September

Mark NugentDaily Alert, Sept 2017

Forex Analysis for Wednesday 13th September 2017

The USD was flat on the day. The risk-on tone continued to lift US equity indices and the Euro50 and Japan225. Gold moves up ever so slightly. The UK indices dropped on the good CPI number as an interest rate hike is bad for corporates. The JPY weakened all day and the GBP rose. The US 10 Year yield rose. Solid risk-on performance.

Early today, GBP Average Earnings missed at 2.1% vs 2.3%. The GBP is dropping as I write as the chance of a hike is lessened.

As I write, UK equities continue to fall and the Japan225 turns around and moves down. The JPY is static at yesterday’s high, i.e. the weakness has not reversed.

My Gold short is under water with stop in the original position. My Japan225 long is reversing with stop at breakeven. My GBPJPY long is nicely in profit, stop moved to lock in 1x risk.

Tomorrow we have USD CPI and GBP Super Thursday.

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