Trading Plan – Monday 20th November 2023: Fed minutes and PMIs in focus

Mark NugentNov 2023, Trading Plan

Trading Plan – Monday 20th November 2023: Fed minutes and PMIs in focus

Good afternoon.

We have the Fed’s meeting minutes on Tuesday. Fed Chair Powell indicated after holding rates steady at the last meeting on 1st November, that there may not be any need to hike rates further as the bond market is doing some of the Fed’s work for it. It will be interesting to see if the minutes reflect this view.

This week will be characterised by Thursday’s Thanksgiving holiday in the US, essentially bringing the week to a halt at the Wednesday close.

However, the Old World might stir things up on Thursday with a slew of PMI reports from Germany, the Eurozone and the UK. Last month’s PMI readings (24th October) in all three territories were almost uniformly grim. Really grim.

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

I will be back tomorrow.

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