Daily Alert – Wednesday 21st July 2021: Monday’s doom and gloom evaporates

Mark NugentDaily Alert, July 2021

Daily Alert – Wednesday 21st July 2021: Monday’s doom and gloom evaporates

Monday’s risk-off sentiment, although strong, did not last beyond the day’s end. Tuesday and Wednesday have been solidly risk-on. Equities are rising and as indicated on Monday, I have gone long. WTI took a while to work itself out and is now on the rise, as predicted. I am long.

The JPY is tracking sentiment accurately as are the commodity currencies. This is nice to see.

The week’s major risk event is tomorrow’s ECB rate and statement.

I’ll be back on Friday.

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