Weekly Review and Outlook 9th October 2017

Mark NugentOct 2017, Trading Plan

Weekly Forex Review – Week Commencing 2nd October 2017

The weekend preceding w/c 2nd October saw an illegal independence referendum in Catalonia, where the separatists won. This is still an ongoing issue and is pressuring the EUR.

Risk sentiment was positive for most of the week.

The highlights are as follows:

On Tuesday it was reported that the incumbent Fed Chair Yellen is on the shortlist for the post. She is seen as dovish and this knocked the USD somewhat.

Wednesday saw UK PM Theresa May’s car crash speech, which has led to leadership election fears and is weighing on the GBP.

Thursday saw some Central Bank action, with the Fed’s Williams talking up the USD and the RBA’s Harper talking down the AUD.

Late on Friday a bad NFP number knocked the USD and US equity indices.

Globally, equity indices rose over the week and gold was slightly down. The US 10 Year yield rose. The EUR is rangebound although trying to rise above support. The JPY strengthened over the week and the GBP dropped like a stone. The CAD and NZD barely moved. The AUD was talked down by the RBA, approaching support.

Weekly Forex Outlook – Week Commencing 9th October 2017

Major Events

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