Trading Plan – Monday 4th December 2023: Markets see early US rate cuts

Mark NugentDecember 2023, Trading Plan

Trading Plan – Monday 4th December 2023: Markets see early US rate cuts

Good afternoon.

We have an interesting week this week. US Fed Chair Powell spoke last Friday, and his comments have been interpreted as more “balanced” than his previous “hawkishness”. The markets now believe there will be a rate cut in May next year and possibly as early as March.

WTI continues to fail to rise despite OPEC+ announcing an additional 1 million barrels-per-day production cut. The problem is that making this announcement is all well and good, but there is no agreement on which members are going to cut and by how much. So, if OPEC+ wanted to support their price, and they did, mission-not-yet-accomplished.

The highlight of the week is the usual first-Friday of the month bunfight in the US featuring Non-Farm Payroll, where we see how many new baristas, personal trainers and hairdressers have been created in the last month.

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

I’ll be back tomorrow.

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