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In the Zone
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Market Insight Commentary – Forex
Today's News Headlines
- The whole of South Africa will be on tenterhook today as the drama that is Jacob Zuma drags into a new day, just get on with it already so that we can move forward from his disastrous leadership.
Market Insight Commentary – Indices
Market Recap
Much like Monday, yesterday was characterized with nothing to drive the market. There was no economic news of any substance to help lead the market and it does seem as though the market is treading water. Fed Member Powell was sworn in yesterday as the new Fed Chair, he insisted that the fed will not alter its path and that we would see normalization of rates and steady progress towards full employment and inflation.
Today may provide a little more fireworks with both US CPI and Retail Sales being released this morning. I have covered this all in the morning video but I am looking to fade the USDJPY move as well as keep an eye on both oil and the USDCAD.
Important Economic Data Due Today
15:30 USD CPI
Consensus: 0.3%
Effect: Higher than expected is good for the USD
15:30 USD Retail Sales
Consensus: 0.5%
Effect: Higher than expected is good for the USD
17:30 USD Crude Oil Inventories
Consensus: 2.8M
Effect: No consistent effect on the USD
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