Daily Alert – Friday 8th September 2023: Interesting week; US shutdown looms

Mark NugentDaily Alert, Sept 2023

Daily Alert – Friday 8th September 2023: Interesting week; US shutdown looms

Good afternoon.

It has been an interesting week.

We had the Fed’s Kashkari saying the “surprising resilience of the US economy will probably need us to hike rates again and keep them high to cool inflation”. The USD went up and equities came down. Then, on Wednesday, everyone seemed to remember that September 30th is the deadline for resolving the US debt situation and avoiding a government shutdown. And September 30th is, er, tomorrow. Will we see the usual dysfunctional, eleventh hour, agreement? Probably.

There was good news on inflation in the US, Japan, Germany and the eurozone. New inflation numbers came in below expectations and below the prior period’s number in all four jurisdictions. Maybe strangling the life out of economies actually works?

I placed two trades, essentially the same trade: EURUSD and GBPUSD, both short. The total gain was around 1.9%. There will be videos of these trades next week.

As promised, there are videos of the two profitable WTI trades from week 35 in the usual place, for members only.

Have a great weekend and I’ll be back on Monday.

VIP Club members can see today’s video, all brief trading videos, the Monthly and YTD Performance videos, the Trading Video Course and download the MTM Indicators software HERE