Daily Alert – Wednesday 27th October 2021: All eyes on central banks

Mark NugentDaily Alert, Oct 2021

Daily Alert – Wednesday 27th October 2021: All eyes on central banks

Good morning traders.

It was a day of two halves yesterday. US equities rose into the market close before falling after positive earnings announcements from Twitter, Microsoft, and Alphabet (Google). A classic example of buying the rumour and selling the fact.

This move was enough to take my S&P500 long into positive territory before falling. I managed to get out at the start of the drop for a gain of around 1 percent. Not great but that’s how it goes sometimes.

Today sees the first of the central bank rate and statement announcements when the Bank of Canada takes the stage. Tomorrow will see the ECB and Bank of Japan.

It’s been a bit quiet on the markets this week. Let’s see if the central banks can create some fireworks for us.

We’ll be back tomorrow.

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