Trading Plan – Monday 23rd January 2023: This week’s highlight is US inflation

Mark NugentJan 2023, Trading Plan

Trading Plan – Monday 23rd January 2023: This week’s highlight is US inflation

Good evening.

Last week was all about central banks. The European Central Bank (ECB) was hawkish as President Lagarde vowed to continue the fight to rein in “way too high” inflation. The bank has been hawkish again today. It’s all orchestrated you know.

The Bank of England seemed more dovish as Governor Bailey referenced “turning a corner” on inflation.

The Bank of Japan was also more dovish at their rate-setting meeting than markets anticipated, as they gave no suggestion of any desire to hike rates.

I placed one trade, S&P500 short. I managed to get out at breakeven after it went my way (down) for a short time before reversing as sentiment improved last Friday. You’ll get a short video of this trade this Friday.

This week’s calendar has US Core CPE on Friday as its highlight. This is, of course, the Fed’s chosen measure of inflation and will inform the bank’s deliberations on future rate hikes.

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

I’ll be back tomorrow.

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