Trading Plan – Monday 10th June 2024: Inflation mania on Wednesday

Mark NugentJune 2024, Trading Plan

Trading Plan – Monday 10th June 2024: Inflation mania on Wednesday

Good afternoon.

This week’s highlight is the Rate and Statement from the US Fed on Wednesday. Last Friday saw a very impressive Non-Farm Payroll number, showing the great resilience of the US economy. This, of course, bolsters the Fed’s “higher-for-longer” narrative. The USD soared and is still going up today. Also, on Wednesday we will see the latest CPI numbers as well as the Fed’s latest forecasts for inflation. So, there should be some cud to chew there for sure.

Over the weekend we had EU elections which have shown increased support for right-of-centre parties, especially in France and Germany. This has caused the EUR to fall quite significantly. French president Macron has been forced to call a snap election.

I placed two trades last week. WTI long made 3.72% and USDJPY long was knocked out at breakeven. Brief videos of these trades will be made available tomorrow and Friday, respectively.

As always, I go through my trading themes for the week in your video.

I will be back tomorrow.

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