Daily Alert: Wednesday 29th March 2017

Mark NugentDaily Alert, March 2017

Forex Analysis for Wednesday 29th March 2017

Economic Calendar


A light day on the calendar.

BoE’s McCafferty stated that the BoE will be raising rates when the economy is strong enough and he personally does not know if he will vote for a hike soon. However, he did later state that he only has a limited tolerance for inflation overshoot. (Newswires)

News Media

Tusk said to limit talks to Brexit divorce not trade
Oil gains as Libya faces production problems

Market Reaction

Monday’s negative sentiment evaporated on Tuesday. The USD and US equities are up, as is oil (on a productrion outage in Libya). Gold pauses and the US 10 year treasury sees yield rising as capital flows out of bonds and into risk assets. Global equities also rose. On the currency markets, the notable moves are GBP weakness prior to the triggering of Article 50 and two of the three commodity currencies reversing periods of decline (CAD and AUD).

Today’s Calendar

UK PM May will trigger Article 50 today with a statement to parliament at 1230 BST which could well move the market. On the calendar, there are no Tier I announcements today.

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