Trading Plan – Mon 15 July: Looking for equity pullbacks, FX trends and sanctions on Turkey

Mark NugentJuly 2019, Trading Plan

Trading Plan – Mon 15 July: Looking for equity pullbacks, FX trends and sanctions on Turkey.

The major event of the week was Fed Chair Powell’s testimony on the semi-annual Monetary Policy Report where he re-established the Fed’s dovishness. This was slightly tempered the next day when CPI beat expectations. On balance, a 25bp cut rather than a 50 bp cut seems likely at the Fed meeting on 31st July. Equities rose and the USD fell, all as expected.

This week I will be looking for equity pullbacks, trading opportunities arising form the currencies that are trending. Finally, what is the US going to do to Turkey who are on the naughty step for playing with their new toy, the Russian S-400 anti-aircraft system, which doesn’t really sit well with Turkey’s US F-35s. (Maybe the Americans don’t really want the much-hyped stealth aspect of their F-35s tested by an ally with a Russian missile system. Just saying).

Have a great week.

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