Trading Plan – Monday 16th May 2022: Interesting GDP and inflation readings this week

Mark NugentMay 2022, Trading Plan

Trading Plan – Monday 16th May 2022: Interesting GDP and inflation readings this week

Good morning.

Last week saw the European Central Bank finally succumb to the need for interest rate hikes. Over in the US, Fed Chair Powell held firm on his “50 basis-points is OK” viewpoint after some gnashing of teeth caused by Wednesday’s inflation numbers beating expectation. He even managed to cause a small rally on Friday as equities took succour from his words.

My WTI long made almost 3 percent. There is a brief video in the member’s area.

This week, we have GDP from the Eurozone and Japan, and inflation from the UK and Canada. The UK number will be particularly interesting with the BoE Governor Bailey recently saying inflation in the UK could get to double digits, and the economy not being able to withstand too many additional interest rate hikes.

We are also expecting formal requests to join NATO from Sweden and Finland. If Putin didn’t understand unintended consequences, I am sure he does now.

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

We’ll be back tomorrow.

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