Daily Alert: Wednesday 4th October 2017

Mark NugentDaily Alert, Oct 2017

Forex Analysis for Wednesday 4th October 2017

Yesterday saw GBP Construction PMI missing (48.1 vs 51.1).

Risk tone remains positive.

The USD was soft on news that Yellen is being considered to remain as Fed Chair. Global equities continue to rise. Gold turns up slightly on the softer USD. The US 10 Year yield drops. The JPY weakens slightly. There is an absence of Tier I data and China is on holiday all week. The GBP falls on poor Manufacturing and Construction PMI data, reversing slightly this morning on good Services PMI data (53.6 vs 53.2).

We have the UK PM May’s Conference speech at 1pm today, which may move the GBP.

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