Forex Analysis for Wednesday 5th April 2017
Tuesday: Yesterday was a quiet day.
Wednesday: UK Services PMI beats expectation (55.0 vs 53.5).
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.
Nothing of note.
Today we have USD FOMC Meeting Minutes and USD ADP Non-Farm Employment Change.
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