Daily Alert – Thursday 29th June 2023: Powell, Lagarde and Bailey all hawkish

Mark NugentDaily Alert, June 2023

Daily Alert – Thursday 29th June 2023: Powell, Lagarde and Bailey all hawkish

Good morning.

Yesterday saw indecisive risk sentiment. At the central banker bunfight in Sintra, Fed Chair Powell, European Central Bank President Lagarde and Bank of England Governor Bailey, all reminded us that they are determined etc etc etc. So, more hikes to come.

Later today we have GDP from the US. It will be interesting to see what, if any, impact the Fed’s ten hikes have had on the US economy.

I am currently long on WTI. It is in the money but has not really taken off. I have moved my stop to breakeven.

I’ll be back tomorrow afternoon once we have seen the inflation data from the US, Germany, Euro zone and Japan. Should be interesting.

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