Trading Plan – Tuesday 4th June 2024: All eyes on ECB for first rate cut

Mark NugentJune 2024, Trading Plan

Trading Plan – Tuesday 4th June 2024: All eyes on ECB for first rate cut

Good morning.

This week is all about the European Central Bank. The expectation is for a 25-basis-point rate reduction on Thursday. The focus will then be on the press conference where the market hopes to find out what the likely trajectory for future cuts may be. Then, hopefully, the EUR will weaken, as it should be doing right now, but isn’t.

Right now, WTI is dropping after OPEC+’s surprise announcement to taper production cuts as of October. The market was expecting a continuation of the cuts until the end of the year.

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

I will be back tomorrow with a brief video of Trade 15, Dow30 long, which closed on Friday for a gain of 4.08%.

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