Daily Alert: Wednesday 26th July 2017

Mark NugentDaily Alert, July 2017

Forex Analysis for Wednesday 26th July 2017

Economic Calendar

Nothing yesterday.

Early today (Wednesday), AUD CPI misses (0.2% vs 0.4%).

Market Reaction

The USD decline has stopped, at least for two days now. It’s the turn of the S&P500 to make a new closing all-time high. Elsewhere global equities are all up. Oil makes a significant move up to USD48.5/bbl as API reports a significant reduction in inventory. Gold drops. The US 10 Year yield rises for the second day and the JPY weaskens. We are risk on. Notable currency moves are: the GBP rises for the second day off the support line; CAD breaks through resistance on the rising oil price.

News Media

Big earnings day tomorrow in Europe

Today’s Calendar

GBP Prelim GDP; USD Crude Oil Inventories; USD Fed Funds Rate and FOMC Statement.

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