Daily Alert – Tuesday 18th April 2023: Markets buoyed by China data

Mark NugentApril 2023, Daily Alert

Daily Alert – Tuesday 18th April 2023: Markets buoyed by China data

Good morning.

The markets seem buoyed by overnight data from China. Positive GDP and Retail Sales data reflect China’s re-entry into the global economy after the abandonment of their disastrous zero-covid policy. Equities are on the rise and the USD and JPY safe havens are down.

Last night, EURUSD had sunk to well below the entry price of last week’s winning long trade. I don’t normally go long at the end of a strong down candle, so I placed a pending order in the expectation that the EUR would strengthen. The trade was triggered around 8am this morning and so far, is doing fine.

In the video I spend some time going over the views held by various institutions with respect to the likelihood of a significant stock market fall. It’s quite interesting.

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