Trading Plan – Monday 6th March 2023: Three central banks in the spotlight

Mark NugentMarch 2023, Trading Plan

Trading Plan – Monday 6th March 2023: Three central banks in the spotlight

Good afternoon.

Last week was characterised by persistent inflation in the Euro zone, a UK/EU agreement on Northern Ireland and GDP misses to the downside in Canada and Australia.

In the Euro zone, core inflation increased over the prior month and headline inflation only just managed to come in under the prior month. This prompted hawkishness from ECB members although the single currency itself was unstirred, falling on the week.

The UK/EU deal on the Northern Ireland border prompted a GBP rally.

The significant GDP misses in Canada and Australia show that the central banks are having their desired effect of squashing their respective economies.

This week sees three central banks with rate announcements: the Reserve bank of Australia tomorrow, the Reserve bank of Canada on Wednesday and the Bank of Japan on Friday.

As of 330pm UK-time, sentiment is indecisive.

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

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