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KTA Macro Weekly Wrap 12/01/18

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 Louise Griffin, Relationship Development Manager at Knightsbridge Trading Academy

 Friday, January 12, 2018

In the G10 currencies this week, NOK and JPY are the top gainers while USD and CAD are the top losers. EURUSD reached the 1.21 mark in early morning trading aided by a hawkish ECB monetary policy minutes on Thursday and a weak dollar. We also saw headlines from Germany where Chancellor Angela Merkel and the SPD political party reached an initial deal in coalition talks. USD continued its weakness despite the US CPI and Retail sales reporting strong numbers. USD week close will be crucial because the Dollar is forming outside week versus a number of currencies; may decide the trend for dollar for the coming weeks. In the equities space, the Nikkei has closed up -0.26 for the week at 23653.82 but the European equities have made some minor gains with FTSE up 0.96% and CAC up 0.72%. In the US S&P500, Nasdaq and Dow have all made substantial gains. In the rates market, the US 10 year yield and the Bund 10-year yields have both risen. In the energy space, the Brent is consolidating around at $69.14 after early week gains. In terms of data, there are a number of Fed speakers next week but otherwise, the US economic calendar is less busy. That said we have the all-important BoC rates decision next week. There is not much data from Europe but we have the UK inflation rate. From Australia, the NAB business confidence, consumer confidence, and employment report are all due next week.


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