Daily Alert: For Thursday 26th November 2015

Mark Nugent2015 H2, Daily Alert

Today’s slides are HERE.

Today’s Economic News

A quiet day in a quiet week. The only notable Tier I event was US Unemployment Claims coming in at 260K versus an expectation of 273K.

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There is a Tier II event which is worth looking at. It is a US event and is called Core PCE Price Index m/m, PCE standing for Personal Consumption Expenditure. It is a more subtle and meaningful measure of inflation than CPI and I along with a lot of other traders wonder why it is not a Tier I event when it clearly features so heavily in the Fed’s monetary policy thinking as judged by their various minutes. It came in just below expectation. I don’t think this is a sufficient miss to threaten the rate hike in December. You can read more about Core PCE vs CPI at Wikipedia HERE

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Current Trades

My EURUSD trade is showing a bit of volatility today but ends up making a modest move down. I’m not expecting any huge moves this week.

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Today’s M1 Trades

There are no M1 trades this week.

Other Opportunities

EURGBP, the alternative Euro short trade, is having a down day and if you placed a pending trade you may well be in. The safest entry remains belows last week’s lows.

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GBPNZD continues down and I have cancelled my pending long and set up another at few pips above yesterday’s high.

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Finally, the other NZD pair, NZDUSD, has moved up slightly today, is sitting between the EMA lines and offers opportunity when the down move recommences.

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