Trading Analysis for Thursday 14th December 2017
I enter Brent short as the price boost afforded by the API oil inventory drawdown dissipates. Currently it is almost at 1 x risk in profit.
Yesterday, the FOMC hiked rates to 1.25% – 1.50%, as expected. Yellen, in her last meeting, failed to deliver any hawkish surprises while the rate path trajectory was kept broadly the same. Earlier in the day, Core CPI missed. The USD fell.
The UK government was defeated in parliament in a 309-305 vote, meaning MPs will get a meaningful vote on the final Brexit deal.
The USD dropped, global equities were mostly down. Gold rose on the weak USD. The JPY strengthened. The US 10 Year yield dropped. Looks a lot like risk-off.
Today I will be looking for signs of the Bank of England recognising fewer downside risks to the UK economy and a GBP rise.
VIP Club members please [mepr-login-link] to access your Daily Alert video.
For VIP Club members, this commentary is augmented with a short daily video where I discuss the trades I am in and the opportunities for tomorrow. If you would like a free one month trial to the VIP Club you can find out more HERE.
Here is your Daily Alert video.
The updated Trading Plan is HERE.
You can download the video HERE. If it starts to play in your browser, right click on it and select “save video as” or similar and it will download to your machine.
There is an archive of all VIP Club member’s content on the VIP Club page.