Daily Alert – Thurs 11 July: Predictable markets, but sadly sluggish.

Mark NugentDaily Alert, July 2019

Daily Alert – Thurs 11 July: Predictable markets, but sadly sluggish.

The US CPI numbers (headline and core) exceeded expectations, but the Powell-inspired feeling that a rate cut is imminent remains. The ECB agrees on the need to change their stance by cutting rates (from their current position of 0.00%). The BoE talks of tightening post Brexit (making it the only central bank in town doing so). The GBP is going to rise significantly if we can avoid a car crash Brexit. Oil shoots up after two significant stock drawdowns, the Gulf of Mexico shutting 32% of its production due to an imminent cyclone, and the Iranians trying and failing to seize a British tanker in the Straight of Hormuz. What an eventful week.

The markets reacted predictably to most events. However, moves were not large and that made trading difficult.

Have a great weekend when it comes and I’ll be with you on Monday.

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