Daily Alert – Thursday 4th April 2024: Powell re-iterates cuts are coming

Mark NugentApril 2024, Daily Alert

Daily Alert – Thursday 4th April 2024: Powell re-iterates cuts are coming

Good afternoon.

No Tier I economic news items today. Last night, Fed Chair Powell spoke. The markets are hanging onto his re-iteration that it is likely there will be interest rate cuts this year. The USD drops and GOLD rises.

My WTI long has now closed for a nice gain. My EURUSD and GBPUSD trades are doing nicely. The theme of each trade, strong GBP, and strong EUR, is playing out. In addition, Powell’s comments and the resulting drop in USD is providing as nice tail wind.

Have a nice weekend when it comes. I will be back on Monday, and we’ll look at Week 15.

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