Daily Alert: Wednesday 26th April 2017

Mark NugentApril 2017, Daily Alert

Forex Analysis for Wednesday 26th April 2017

Economic Calendar

Tuesday: US administration official confirmed that President Trump’s tax plan is to be released on Wednesday, which will reduce tax on repatriation of corporate profits from overseas to 10% and cut the tax rate on pass-through businesses to 15% from 39.6%. (Newswires)

Wednesday (today) saw Australian CPI q/q coming in at 0.5% vs 0.6% expectation.

Market Reaction

The French election fallout continues. The USD is down as the EUR rises and the JPY weakens to reflect risk-on sentiment. Global equities rise. Gold falls as funds flow away into riskier assets. Oil clings to it’s support line. The US 10 Year Treasury moves up to what was support as buoyancy returns to the markets. The GBP closes at a high not seen since mid December last year. The timber and milk tariff situation continues to weaken both CAD and NZD. AUD drops on the CPI miss this morning.

News Media

Nothing not already covered.

Today’s Calendar

CAD Retail Sales.

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