Daily Alert: Thursday 14th December 2017

Mark NugentDaily Alert, Dec 2017

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.

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