Daily Alert – Wednesday 27th September 2023: USD hits 9-month high, EUR and GBP falling

Mark NugentDaily Alert, Sept 2023

Daily Alert – Wednesday 27th September 2023: USD hits 9-month high, EUR and GBP falling

Good afternoon.

Yesterday, Consumer Confidence in the US disappointed. Equity indices fell and are still falling. Today, the USD index hits a 9-month high. Some analysts are forecasting BRENT crude at USD150/bbl. It is currently around USD93/bbl.

The EUR and GBP are dropping as fast as the USD is rising. This is in line with my bias on the three currencies. I went short on EURUSD and GBPUSD on Monday night, halving my usual risk to 1% per trade, to be a bit cautious as there is an increased risk that if one trade fails, so will the other. They are both around 1x risk in the money. So far, so good.

Looking ahead, there’s lots of interesting GDP and inflation stuff to come in the US, UK, Japan and the eurozone. I will be back on Friday once it is all over and we’ll pick through the bones.

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