Trading Plan – Monday 29th January 2024: All eyes on the Fed and BoE

Mark NugentJanuary 2024, Trading Plan

Trading Plan – Monday 29th January 2024: All eyes on the Fed and BoE

Good afternoon.

Here are some points from the latter half of last week:

European Central Bank President Lagarde confirms her view that rate cutting will start in the middle of this year. The markets are now 90% certain the first cut will be in April.

The European economy’s precarious nature was again highlighted in PMI reports released on Wednesday, all of which were below 50 and as such indicate industry contraction.

US Q4 GDP came in hot at 3.3% against an expected 2.0%.

Japanese inflation (Tokyo CPI) fell below the 2% target for the first time since May 2022, perhaps delaying the first Bank of Japan rate hike in a good while.

This week we have rate decisions from the US Fed and the Bank of England. We will be further entertained by preliminary GDP and inflation from Germany and the eurozone.

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

I’ll be back tomorrow.

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