Daily Alert: Wednesday 18th January 2017

Mark Nugent Daily Alert, Jan 2017

Forex Analysis for Wednesday 18th January 2017
Economic Calendar

UK PM Teresa May’s speech on her approach to the Brexit negotiations was well received.

This morning (Wednesday) saw UK Average Earnings 3m/y grow by 2.8% vs expectation of 2.6%. This is fuel for inflation.

Market Reaction

The GBP is buoyed significantly my PM May’s speech. USD nursed recent Trump-triggered losses in which comments by the President-elect that USD was too strong and that he preferred a weaker currency pressured the USD-index to 1-month lows. The FTSE100 drops although a few hours after PM May’s speech. Japan 225 stalls at the 50MA. Oil consolidates.

Media

GBP rescued by May faces choppy waters

Today

US CPI, CAD Rate Statement, US Fed Chair Yellen speaks.

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