Forex Analysis for Wednesday 4th January 2017
It’s been 2 weeks since my last Daily Alert. Here’s a quick review of the little that has been happening:
The USD index and USD equities have been consolidating at all time highs. European and Japanese bourses are grinding slowly upwards. Oil is choppy but moving upwards. Other currencies: the EUR is choppy. The JPY has been strengthening on the general risk-on sentiment but has weakened in the last 3 days of trading. The GBP has been consolidating just below resistance. CAD has been buoyant along with the oil price and is currently at near-term resistance. As expected, there has been no strong directional movement over the holiday period.
Notable announcements made since we last spoke: 22nd Dec saw US Final GDP q/q at a healthy 3.5% (3.3% expected). The 26th December saw Tokyo Core CPI y/y at -0.6% (-0.4% expected).
FOMC Meeting Minutes.
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