Trading Plan – Tuesday 28th May 2024: Final eurozone CPI before a cut?

Mark NugentMay 2024, Trading Plan

Trading Plan – Tuesday 28th May 2024: Final eurozone CPI before a cut?

Good morning.

Yesterday was quiet with the US on holiday for Memorial Day.

This week’s highlight is the Fed’s chosen measure of inflation, Personal Consumption Expenditure, due on Friday. Prior to that, we have German inflation on Wednesday and then eurozone inflation on Friday. This will be the final eurozone inflation reading before the European Central Bank meets on 6th June for what is expected to be the first rate cut since the hiking began almost two years ago. What a relief.

Other issues include US GDP on Thursday and those sneaky OPEC guys having their bunfight on Sunday. The current agreement on production cuts lapses at the end of June, and they need to get their story straight for Q3 and Q4. Most observers expect the production cuts to continue into Q3 at the very least.

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

I’ll be back on Thursday.

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