Daily Alert: Wednesday 19th April 2017

Mark NugentApril 2017, Daily Alert

Forex Analysis for Wednesday 19th April 2017

Economic Calendar

UK PM May announces General Election on 8th June.

Market Reaction

The markets are dominated by the UK election announcement. The GBP surges to year-to-date highs and now seems to be pausing (Wed 1230pm BSDT). UK equity indices move downwards but the FTSE250 rebounds to recover all the loss this morning. Globally, the USD is down and US equities consolidate. 10 Year Treasuries close below 2.2%, despite lack of any significant US news. European and Japanese stocks drop to the 50MA and 200MA support lines respectively. The JPY weakens. The AUD drops as the iron ore price continues down.

I’d say there’s a slight easing in risk-off sentiment (JPY weakness) but I’d like to see a firmer move to a more positive sentiment.

News Media

Goldman Sachs closes long USD positions
Markets start to ponder the USD13 trillion gorilla in the room

Today’s Calendar

EUR Final CPI; NZD CPI

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