Daily Alert: Wednesday 9th August 2017

Mark NugentAug 2017, Daily Alert

Forex Analysis for Wednesday 9th August 2017

Economic Calendar

Nothing on the calendar but a lot on the geopolitical front:

War of words between Trump and North Korea moves the markets towards risk-off.

South African President Zuma survives a secret ballot no-confidence vote.

US API Crude Oil Inventory Report for Aug 4 saw a week-on-week change of -7839K (previous +1779K).

Market Reaction

The risk-off tone is evidenced by the strengthening JPY, rising gold and dropping equity indices, led by the Japan225 which moves through the recent support levels, and a 10 Year US Treasury yield that pushed down to opening levels after rising all day.

News Media

Korea tension

Today’s Calendar

NZD Official Cash Rate, Rate Statement and Monetary Policy Statement.

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