Daily Alert: Wednesday 5th July 2017

Mark NugentDaily Alert, July 2017

Forex Analysis for Wednesday 5th July 2017

Economic Calendar

Hawkish commentary continues out of the BoE, with yesterday’s comments from Saunders sends yet another signal that the BoE could be ready to hike rates back to 0.50%, stating that UK households should prepare for rates to go higher at some point, adding that there is no sense in suggesting that policy should remain on hold because Brexit negotiations are ongoing.

Confirmation that North Korea’s missile test was formally classed as an intercontinental ballistic missile test has clearly worried markets, with the US and South Korea saying war cannot be ruled out.

Market Reaction

The USD is flat and global equities are pretty much unmoved. Oil, gold and the US 10 Year yield barely budge. JPY strengthens but moves back into weakness this morning. CAD rises as AUD and NZD consolidate.

News Media

Fed minutes may give clues on QE withdrawal

Today’s Calendar

GBP Services PMI; USD FOMC Meeting Minutes.

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