Trading Plan – Monday 22nd May 2023: Debt-ceiling brinksmanship continues…

Mark NugentMay 2023, Trading Plan

Trading Plan – Monday 22nd May 2023: Debt-ceiling brinksmanship continues…

Good afternoon.

Last week saw three days of risk-on sentiment. Various Fed voters expressed differing opinions on the need for further rate hikes. US Retail Sales were mixed with one measure exceeding expectations and another falling short. The US debt-ceiling brinksmanship got closer to the brink.

I placed one trade, USDJPY long, closing on Friday for a gain of 1.88%.

This week sees FOMC Meeting Minutes on Wednesday and US GDP on Thursday. We will be entertained by the ongoing debt-ceiling saga. Over the weekend, Goldman Sachs economists said that the US Treasury will see its cash levels drop below that needed to meet federal obligations by June 8 or 9.

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

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