Trading Plan – Monday 7th March 2022: Ukraine dominates news flow, markets predictable

Mark NugentMarch 2022, Trading Plan

Trading Plan – Monday 7th March 2022: Ukraine dominates news flow, markets predictable

Good morning.

Last week was all about the Russian invasion of Ukraine. Markets reacted predictably. Equities fell. Oil surged. Safe havens (USD, JPY and GOLD) all rose. The EUR and GBP fell due to relative proximity to Ukraine and reliance on Russian energy.

I traded EURAUD short. The theme for the trade was “EUR weakness”. It was the simplest of trades and made 7.0 percent when I closed it on Friday night. There is a video of this trade and the February performance Report in the members area.

This week starts with risk-off sentiment as last week’s moves continue.

There are two highlights this week.

Firstly, we have the European Central Bank meeting on Thursday. It will be interesting to see if they maintain their “no interest rate hikes” position. At the last 3rd February meeting, they dropped the “no hikes in 2022” text from their statement. The markets viewed that as hawkish which evidently was not the ECB’s intention as Christine Lagarde and others tried to walk it back over the subsequent days.

Secondly, we have headline and core inflation in the US, also on Thursday, which will set the scene for next week’s Fed rate-setting meeting.

As always, I go through my trading ideas 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