Forex Analysis for Wednesday 26th April 2017
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.
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.
Nothing not already covered.
CAD Retail Sales.
VIP Club members please [mepr-login-link] to access your Daily Alert video.
For VIP Club members, this commentary is augmented with a short daily video where I discuss the trades I am in and the opportunities for tomorrow. If you would like a free one month trial to the VIP Club you can find out more HERE.
Here is your Daily Alert video. Trade talk starts at 3:50.
You can download the video HERE. If it starts to play in your browser, right click on it and select “save video as” or similar and it will download to your machine.
There is an archive of all VIP Club member’s content on the VIP Club page.