Forex Analysis for Wednesday 18th January 2017
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.
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.
US CPI, CAD Rate Statement, US Fed Chair Yellen speaks.
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