Daily Alert: Wednesday 2nd November 2016

Mark NugentDaily Alert, Nov 2016

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Forex Analysis for Wednesday 2nd November 2016
Economic Calendar

Tuesday saw UK Manufacturing PMI essentially on target at 54.3 vs expectation of 54.6. Canadian GDP m/m was on target at 0.2%. US ISM Manufacturing PMI was also on target at 51.9 vs 51.8. New Zealand Global Dairy saw a healthy 11.4% rise.

Market Reaction

Big falls in US equities as ABC News/Washington Post poll shows Trump ahead for first time since May. UK FTSE100 similar. Euro50 makes a strong move down through the 200MA and Aus200 breaks down through support. WTI breaks down through the 100MA. On the currency markets, the USD drops as the JPY strengthens on safe haven flows. The GBP continues sideways and the EUR sees some strength. CAD drops on continued oil price concerns and AUD and NZD go sideways.

Media

Easing addiction risks turning Swedish Krona into playmoney

Today

Today sees UK Construction PMI and the US Fed Funds Rate at 6pm GMT.

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