Trading Plan – Monday 18th December 2023: US Core CPE will end my trading year

Mark NugentDecember 2023, Trading Plan

Trading Plan – Monday 18th December 2023: US Core CPE will end my trading year

Good afternoon.

Last week’s S&P500 long trade closed for a gain of +2.42% on a risk of 2.0%. My WTI long trade closed for a gain of +0.93% on a risk of 1.0%. Not too shabby. Thank you, Jerome Powell.

This week is the last trading week of the year, and the economic calendar is sparse. However, there is always some fun to be had. Wednesday sees UK inflation for November. Economists are predicting a modest drop from October’s readings. Then on Friday we have UK GDP. The economist’s forecasts are for Q3 growth to be not very growthy at all. In fact, dangerously close to contraction. We’ll see.

The fun ends on Friday with what is probably the highlight of the week, the Fed’s chosen measure of inflation: Core PCE. The expectation is for year-on-year inflation to fall from last month’s 3.0% to 2.8%. The UK looks on enviously.

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

I’ll be back tomorrow.

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