Daily Alert – Thursday 16th February 2023: Strong US Retail Sales bolsters Fed

Mark NugentDaily Alert, Feb 2023

Daily Alert – Thursday 16th February 2023: Strong US Retail Sales bolsters Fed

Good morning.

US Retail Sales beat expectations yesterday. This, combined with the CPI numbers on Tuesday, NFP at the start of the month and various other measures of economic performance bolsters the Fed’s hawkish narrative.

US yields rose as you would expect, and equities also rose as you wouldn’t expect. It’s still a crazy world.

I exited half of each of my two GBP short trades. I have not moved the stop close to the prevailing price to give them some room to breathe.

That’s it really in terms of major economic news for the week.

I will be back tomorrow with a short video of last week’s WTI long trade.

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