Trading Plan – Monday 26th June 2023: Slumming it in Sintra

Mark NugentJune 2023, Trading Plan

Trading Plan – Monday 26th June 2023: Slumming it in Sintra

Good morning.

Last week was quite risk-off.

Fed Chair Powell re-iterated the view expressed the prior week that there are more interest rate hikes to come, despite the recent Fed pause.

The UK saw a bad inflation result on Wednesday and the Bank of England hiked rates by 50 basis-points the next day when the markets were expecting only 25 basis-points.

The week ended with a slew of negative PMIs on Friday in the US, Euro zone and the UK. Not surprising as central banks continue to suppress their respective economies.

This week sees the European Central Bank’s annual Forum on Central Banking taking place in the lovely Portuguese town of Sintra. We also have inflation data from Canada, Australia, the Euro zone, Japan, and the USA.

Today is sparse on the calendar and tomorrow is barely more exciting so I will not make a video on Tuesday. Instead, I will produce one on Friday, to allow us to digest the week’s inflation data, most of which comes out on that day.

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

VIP Club members can see today’s video, all brief trading videos, the Monthly and YTD Performance videos, the Trading Video Course and download the MTM Indicators software HERE