Daily Alert – Thurs 5 Dec: Equity reversal underway; GBP soars

Mark NugentDaily Alert, Dec 2019

Daily Alert – Thurs 5 Dec: Equity reversal underway; GBP soars

Risk sentiment turns positive on Wednesday. The equity reversal is established and the GBP continues to be the best performer amongst the currencies.

The USD is kept low despite the sentiment due to a poor ISM Non-Manufacturing report. The AUD is bashed by negative economic news as predicted but I cannot trade it because the only strong currency to trade it with, GBP, is currently occupied in my GBPUSD trades. Annoying but there you go.

I hope you are making some money on the GBP and the equity reversal.

The only things to look for now are Friday’s NFP and Average Earnings in the US and the outcome of the OPEC meeting.

Have a great weekend when it comes and I’ll have a Performance Report for you tomorrow and a Trade Plan on Monday. Next week should be fun, especially Thursday and Friday.

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