Trading Analysis for Tuesday 21st November 2017
Yesterday we were risk on. The USD was up as were global equities. GOLD dropped, the JPY weakened and the 10 Year US yield rose. A perfect 5 out of 5 for risk on.
On the currency markets, most majors were range bound with the AUD at and the NZD approaching support.
I enter a FTSE250 long as the Daily candle closes above recent highs.
Early this morning, the Reserve Bank of Australia minutes from the November 7th meeting stated that any further appreciation in AUD would slow expected pick-up in inflation and the economy. The minutes also stated that there is considerable uncertainty on how fast wages might pick up and add to inflation, while it added that a pass through to inflation may be delayed by many factors. The AUD moves down slightly.
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