Daily Alert: Wednesday 5th April 2017

Mark Nugent April 2017, Daily Alert

Forex Analysis for Wednesday 5th April 2017

Economic Calendar

Tuesday: Yesterday was a quiet day.

Wednesday: UK Services PMI beats expectation (55.0 vs 53.5).

Market Reaction

Not so much a return to risk-on after Monday’s risk-off, more a sleepy day in the office. The USD hardly moves. NO real direction in global equity indices. Oil does break through the 50MA. The US 10 Year yield rises up off the short-term support line. On currencies, the JPY moves out of its channel to the strong side but gives most of it back before the close. NZD spends its 19th day in a very narrow channel.

News Media

Nothing of note.

Today’s Calendar

Today we have USD FOMC Meeting Minutes and USD ADP Non-Farm Employment Change.

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