Daily Alert – Wednesday 17th August 2022: UK inflation hits 10.1 percent

Mark NugentAug 2022, Daily Alert

Daily Alert – Wednesday 17th August 2022: UK inflation hits 10.1 percent

Good morning.

Yesterday was moderately risk-on. I went long on WTI via a pending order as it continued to recover from lows. The trade immediately reversed and had a near-death experience, but my stop-loss was not hit and the trade is recovering, although still under water.

Earlier this morning we saw UK inflation for July (year-on-year) at 10.1 percent.

Looking ahead, highlights are Euro Zone GDP and later tonight, the Fed’s FOMC Meeting Minutes, which will be analysed word-by-word as always.

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