Daily Alert: Wednesday 15th February 2017

Mark NugentDaily Alert, Feb 2017

Forex Analysis for Wednesday 15th February 2017

Early today we saw UK Average Earnings Index 3m/y missed (2.6% vs 2.8%).

The USD continues its rise taking US and global equities along with it, as Yellen told Congress the Fed does noeed to wait for Trump to outline plans on fiscal stimulus before resuming rate hikes. The banking sectors in global equity indices performed the best on this news. The exception was the Japan 225 which is reeling slightly from the life-threatening Toshiba results. The EUR and JPY weakens as per plan with the only misbehaving currency being the weak GBP.

Media:

Yellen buoys risk appetite

Today, we see more Yellen testimony and US CPI and Retail Sales.

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