Daily Alert: Friday 10th November 2017

Mark Nugent Daily Alert, Nov 2017

Trading Analysis for Friday 10th November 2017

My WTI trade improves very slowly. Gold is pulling back nicely (rising) and developing a short set-up. The FTSE250 does the opposite, dropping to create a nice long set-up for next week.

The Australian Statement On Monetary Policy saw the central bank cut their inflation outlook, while they also saw underlying inflation not reaching their 2% target until 2019. However, much of the report had been largely in line with expectations.

The Senate GOP released its ‘talking points’ yesterday, and the Senate Finance Committee chair Cassidy suggested that the Bill’s introduction of the corporation tax cut would be delayed for a year in order to generate some savings and ensure the reforms do not add more than $1.5trln to the deficit over a 10-year horizon.

The USD drops. US equities were flat yesterday but down globally today so far. The US 10 Year yield is staging a recovery. GOLD rises and the JPY is flat. I must call it as risk-off.

With the US on holiday today, I think that’s it for the week.

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