Forex Daily Analysis - Wednesday, Sep 19th

Fed cuts by 50 bps.

A surprisingly large cut, which is hurting the USD .

Overnight News Bullets

* SZ Industrial Production Q2, out at 6.7% vs 5.2% exp. YoY out at 9.8% vs 8.3% exp.
* SW GDP Q2, out at 0.9% vs 1.0% exp. YoY out at 3.5% vs 3.6% exp.
* UK CPI Aug, out at 0.4% in line with exp. YoY out at 1.8% vs 1.9% exp.
* UK Core CPI YoY Aug, out at 1.8% in line with exp.
* UK Retail Price Index Aug, out at 207.3 vs 207.0 exp.
* GE ZEW Survey Econ. Sentiment Sep, out at -18.1 vs -17.0 exp.
* GE ZEW Survey Current Situation Sep, out at 74.4 vs 75.0 exp.
* EC ZEW Survey Econ. Sentiment Sep, out at -20.3 vs -15.0 exp.
* US PPI Aug, out at -1.4% vs -0.3% exp. YoY out at 2.2% vs 3.2% exp.
* US Core PPI Aug, out at 0.2% vs 0.1% exp. YoY out at 2.2% in line with exp.
* US Net long term TIC flows July, out at $19.2B vs $85.0B exp.
* US Total Net TIC flows July, out at $103.8B vs $60.0B exp.
* US NAHB Housing Market Index Sep, out at 20 in line with exp.
* FOMC rate decision Sep 18, out at 4.75% vs 5.00% exp.
* US ABC Consumer Confidence out at -15 vs. -17 prior.
* Australian Westpac Leading Index MoM (Jul) out at 0.2% vs. 1.0% prior.
* BoJ Target Rate out at 0.5% as expected.
* Japanese Coincident Index (Jul F) out at 70% as expected.
* Japanese Leading Economic Index (Jul F) out at 72.7% as expected.
* Japanese Tokyo Dept. Store Sales YoY (Aug) out at 4.5% vs. -3.9% prior.
* Japanese Nationwide Dept. Store Sales YoY (Aug) out at 1.4% vs. -4.5% prior.

O/N Data Heat map:

EU	US	JP	UK	SZ	AU	CA	NZ	NO	SE	FR
	-		(-)	+

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