Daily Alert – Tuesday 15th November 2022: All quiet as politicians frolic in Bali

Mark NugentDaily Alert, Nov 2022

Daily Alert – Tuesday 15th November 2022: All quiet as politicians frolic in Bali

Good morning.

Yesterday was quiet with risk sentiment being indecisive.

The Fed’s Vice-Chair Brainard said she favours limiting rate hikes to 50 basis points as of the December meeting. Powell had already intimated this in early November, so I hope Brainard’s comments are not mistaken for some sort of “pivot”.

China President Xi and US President Biden had a nice 3-hour chat in Bali and it all seemed very positive.

Japanese GDP surprisingly showed contraction in the third quarter, coming in at -0.3 percent versus an expectation of 0.3 percent.

Yesterday’s lack of price action made trading too risky so I placed no trades.

Earlier this morning, the UK’s employment situation worsened with both new claimants and the unemployment rate exceeding expectation.

Looking ahead, we have Eurozone GDP later this morning.

I’ll be back tomorrow.

VIP Club members can see today’s video, all brief trading videos, the Monthly and YTD Performance videos, the Trading Video Course and download the MTM Indicators software HERE