Daily Alert – Wednesday 5th January 2022: Markets ease into the new year
Happy New Year to all.
Monday was a holiday in most territories. Yesterday saw indecisive risk sentiment. OPEC increased production by 400K barrels per day as of February but rather than focus on the price-lowering aspect of increased supply, the market chose to look at this move as a positive with respect to the health of the global economy, driving the oil price up.
Today sees the FOMC minutes from the meeting on 15th December where a quicker taper was announced, with market expectation of earlier hikes. The minutes, as always, will be studied word-by-word for signs of the Fed’s intentions.
It is unlikely I will trade this week. I will watch the charts and keep my eye on the news flow.
VIP Club members can see today’s video, all brief trading videos, the Monthly and YTD Performance videos, the Trading Video Course and download the MTM Indicators software HERE