Weekly Review and Outlook 2nd October 2017

Mark NugentOct 2017, Trading Plan

Weekly Forex Review – Week Commencing 25th September 2017

The week started with a negative risk tone after the weekend’s Parliamentary elections in New Zealand and Germany. Neither produced an outright winner. In Germany, Merkel lost ground as the far-right made gians. Coalition building looks hard in Germany and this is weighing on the EUR.

Tuesday saw Trump’s tax plans announced. This boosted the USD. Risk tone was positive.

On Wednesday, the RBNZ kept interest rates unchanged at 1.75%. Risk tone remained positive.

Thursday was quiet.

Friday saw a lot of Tier I data. Those of note were all misses: GBP Current Account (-23.2B vs -15.8B); CAD GDP (0.0% vs 0.1%); USD Core PCE (0.1% vs 0.2%) and EUR CPI Flash Estimate (Core: 1.1% vs 1.2%; Headline: 1.5% vs 1.6%).

Weekly Forex Outlook – Week Commencing 2nd October 2017

Over the weekend saw the illegal independence election in Catalonia. The separatists are considering unilaterally declaring independence within a week. This is pressuring the EUR.

Major Events

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