Daily Alert – Tuesday 9th November 2021: Watching the GBP closely…

Mark NugentDaily Alert, Nov 2021

Daily Alert – Tuesday 9th November 2021: Watching the GBP closely…

Good morning traders.

Not a lot happened yesterday. Risk sentiment was indecisive, although on the verge of risk-on. Having said that, the calculation was driven by a rise in US 10-year bond yield. Equities themselves barely moved. As predicted yesterday, with an empty calendar and a public holiday in the US on Thursday, it may be a quiet week.

There is little to frighten the horses on today’s economic calendar, with tonight’s API oil inventories being the highlight of the day, and that’s not much of a highlight.

I am watching the GBP having a wee bit of a rally. My bias is bearish, so I won’t trade it long, but I am keen to get in on the way down.

We’ll be back tomorrow.

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