Daily Alert: Wednesday 8th February 2017

Mark NugentDaily Alert, Feb 2017

Forex Analysis for Wednesday 8th February 2017

BoJ Summary of Opinions from January 30th-31st meeting stated that Japan’s economy has continued its moderate recovery trend and will likely continue at a pace above its potential. The BoJ stated it should be prudent regarding abruptly changing policy and that it observed more positive developments in the real economy including pick-up in exports, an upturn in private consumption and an increase in business fixed investment. (BoJ/Newswires)

Yesterday was a very light news day.

The USD is up week-to-date and US equities are near all-time highs with the Nasdaq making a new all-time high. The GBP is also up week-to-date and UK equities are buoyant. The EUR is well down on the week and is currently at short-term support. The Euro50 consolidates. The JPY was slightly up and ther Japan 225 rose above the 50MA. Oil turns down and closes just below the 50MA.

Blackrock say investors should not be so skeptical about European stocks

Later today we have NZD Rate Statement and Monetary Policy Statement.

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