Daily Alert – Friday 5th July 2024: Labour landslide, markets relaxed

Mark NugentDaily Alert, July 2024

Daily Alert – Friday 5th July 2024: Labour landslide, markets relaxed

Good afternoon.

The FED says it needs to see further evidence of softening inflation before going crazy with the rate cutting. It’s an easy position to adopt as the economy seems to be doing fine with rates where they are.

The UK election has resulted in a landslide win for Labour. The markets seem relaxed.

The US delivers another positive Non-Farm Payroll number.

My USDJPY trade gets kicked out at breakeven.

The next fun will come over the weekend when we have the second and final round of the French election. Have the left-wing champions of democracy done enough to put themselves before the will of the people? Will Le Pen establish a white supremacist ethnostate by next weekend? Can it all be fixed with a long lunch? Stay tuned.

I’ll be back on Monday.

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