Daily Alert – Thursday 11th January 2024: US inflation surprises to the upside

Mark NugentDaily Alert, January 2024

Daily Alert – Thursday 11th January 2024: US inflation surprises to the upside

Good afternoon.

US inflation surprised to the upside today. Both core and headline inflation for December came in higher than the market expectation and headline inflation exceeded the November number as well. The USD rose and equity indices fell. It is unlikely that this, essentially single data point, will alter the Fed’s course.

Elsewhere, the Securities and Exchange Commission in the US approved several crypto ETFs. Trading will start tomorrow. I see this as a fundamental change in the supply/demand balance as more retail investors will be attracted into the market. But beware! Immediately after approving the crypto ETFs, the SEC told investors to beware of the “myriad risks”. So there.

I did place a pending short on the Japan225 last night, but it was not triggered.

I’ll be back tomorrow with your Performance Report for December and an analysis of last year’s trading.

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