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.

20151126 (1)

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

20151126 (6)


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.

20151126 (2)

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.

20151126 (3)

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

20151126 (4)

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.

20151126 (5)