Daily Alert – Tuesday 6th September 2022: UK gets fourth PM in six years

Mark NugentDaily Alert, Sept 2022

Daily Alert – Tuesday 6th September 2022: UK gets fourth PM in six years

Good morning.

Yesterday’s markets were indecisive, quietened by the US Labor Day holiday.

OPEC met to discuss production quotas and decided to affirm previous decisions.

The Reserve Bank of Australia raised interest rates by 50 basis-points as expected. The bank said they expect inflation to peak later this year at 7.75 percent. Luxury!

Equities and currencies offered no opportunity yesterday. I remain keen on WTI and will watch it closely today. I was put off last night by a bit of selling. I may enter today via a pending order.

This afternoon, Britain gets its fourth Prime Minister in six years as Queenie allows Lizzy to “kiss the hand” (no actual kissing involved). Then it’s all eyes on Lizzy to see how much of our money she’s going to lend us to keep the heating on this winter. Let’s hope her plan isn’t too half-arsed.

I’ll be back tomorrow.

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