Daily Alert – Tuesday 16th January 2024: ECB doves fight back

Mark NugentDaily Alert, January 2024

Daily Alert – Tuesday 16th January 2024: ECB doves fight back

Good afternoon.

Yesterday’s comments from the very hawkish Holtzmann at the European Central Bank that there won’t be any interest rate cuts in 2024 and everyone is to go to bed early with no dinner, has drawn a reply from two of his colleagues. Today, two doves, Nagel and Villeroy, said yes there will be cuts and ice cream for everyone. I guess the real message here is that before you cut you must stop talking about hikes and start talking about cuts. Well, that’s happening. All good.

I placed a pending short order on Japan225 last night. It was triggered at midnight. First trade of the year! It’s a touch underwater right now. But that 7% gain in the Japan225 must reverse, right?

I’ll be back tomorrow, when we can have a look at UK inflation, probably through the gaps in our fingers.

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