Trading Plan – Mon 5 Aug: Solid risk-off everywhere, but markets predictable

Mark NugentAug 2019, Trading Plan

Trading Plan – Mon 5 Aug: Solid risk-off everywhere, but markets predictable

Last week there was not a hint of risk-on sentiment all week. Trump threatened a reciprocal tax on Macron’s tech tax; US/China trade talks collapsed; Trump announced more tariffs on Chinese exports to the US; North Korea tested more missiles for the second time in the week. Equities dropped all over the world. Oil fell by 6% on Thursday. GOLD rose over the week.

The Fed managed a hawkish rate cut on Wednesday, not something you see every day. The USD rose over the week.

In the UK, PM Johnson refused to meet the EU unless they remove the backstop. The government’s majority was cut to one after losing a by-election on Thursday. The GBP continued its decline.

Risk-off sentiment pushed the AUD and NZD down further and the JPY rose on safe-haven flows.

That’s a pretty negative state-of-affairs with which to start this week. Having said that, the markets are reacting predictably and there are trading opportunities that I address in the video.

Have a great week.

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Here is your video:

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