Daily Alert: Wednesday 18th October 2017

Mark NugentDaily Alert, Oct 2017

Forex Analysis for Wednesday 18th October 2017

Tuesday was risk on. The USD rose as it was reported that Trump was likely to appoint the hawk Taylor as next Fed Governor. Announcement expected before Trump leaves for Asia on 3rd November. Final CPI in the Euro Zone was on track, both Headline and Core. UK CPI was on track at 3%. BoE Governor Carney was in front of the Treasury Select Committee and his general comments on Brexit were interpreted as being bearish.

US equities grind upwards. Elsewhere equities are flat. Gold continues down. The US 10 Year yield was flat on the day but has recommenced its upwards direction this morning. The GBP drops on Carney’s comments and PM May’s inability to generate positive news on the Brexit front. Currencies are all essentially rangebound.

This morning, GBP Average Earnings beat expectation and the prior number was revised up.

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