Trading Plan – Mon 23 Sept: Positive noises from US/China trade talks, sentiment positive…

Mark NugentSept 2019, Trading Plan

Trading Plan – Mon 23 Sept: Positive noises from US/China trade talks, sentiment positive…

Last Week

The week starts badly with a drone-strike on Saudi oil facilities. Iran is blamed. Oil spikes 13% but gives half of that back as Aramco say they are fully back on line.

The Fed makes multiple interventions into the overnight repo market, causing concern at the structure of the global banking system.

Equity indices show little movement. The GOLD dip comes to a halt on the relatively poor sentiment compared to prior week, week 37.

The USD rises after a fortnight of pulling back. The EUR hits a two-year low. The JPY rises on worsening sentiment. The GBP moves sideways on a lack of catalysts. AUD and NZD drop as sentiment sours. CAD rises on the oil price.

This Week

It’s early days, but risk sentiment seems to be positive with good noises coming out of the US/China trade talks. The GBP may be buffeted this week by the Supreme Court ruling on the prorogation issue with a verdict expected on Tuesday. I think the risks are skewed to the upside for the GBP. In the video I discuss the best counter-currency to trade with the GBP.

Happy trading and I’ll speak to you tomorrow.

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Here is your video:

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