Forex Analysis for Wednesday 3rd May 2017
Tuesday: UK Manufacturing PMI beat expectation (57.3 vs 54.0).
Wednesday: UK Construction PMI beat expectation at 53.1 vs 52.1. EUR Prelim Flash GDP comes in on target at 0.5%.
The USD, S&P500 and Dow30 consolidate with the Nasdaq being the shining star, making a new all-time high. Both UK equity indices move up with the FTSE250 making a new all-time high. The Japan225 rises before the 5 day weekend (starting today). Oil declines before today’s EIA Crude Oil Inventories number. The JPY continues to weaken as the GBP recovers from the PM May/EU dinner disaster story. The CAD continues down as does the AUD.
US Fed Funds Rate and Statement; UK Construction PMI.
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