Daily Alert – Thursday 23rd January 2020: Equities pulling back; waiting for GBPCAD reversal

Mark Nugent Daily Alert, Jan 2020

Daily Alert – Thursday 23rd January 2020: Equities pulling back; waiting for GBPCAD reversal?

We go moderately risk-off today (as of 1430 GMT) as the coronavirus problem in China intensifies. WTI reflects the sentiment and continues lower. The GBPCAD reversal idea I mentioned yesterday remains current, but I wait for it to really get going.

The ECB keep everything on hold and will continue QE at EUR20B/month for the foreseeable future. That’s a good reason to short the Euro.

That’s it from me. Anything of note between now and the weekend I will post on WhatsApp. Have a great weekend when it comes and I’ll see you on Monday.

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