Webinar – Wed 31 July: The first Fed cut in 11 years, USD strengthens, equities fall

Mark NugentDaily Alert, July 2019, Q&A Webinar

Webinar – Wed 31 July: The first Fed cut in 11 years, USD strengthens, equities fall

Well the Fed delivered the first rate cut in 11 years – 25 basis points as expected. The USD rises and equities fall. Is this buying the rumour and selling the fact, or have all the normal correlations gone out the window? A USD rise and an equity fall would be associated with increased hawkishness, but I see little hawkishness in the Fed’s statement.

The NZD drops on a poor Business Confidence report. It is joined by the AUD, which has recommenced it’s downwards move.

The GBP is up for the first time after dropping for four days.

Tonight I will be looking at the USD and equities, and trying to gauge the true market rational for the post-Fed movements.

Tomorrow, I will be paying close attention to the Bank of England’s Super Thursday to see if Carney will prompt the GBP to continue down.

In the webinar, Steve continued his series on cognitive biases and what we can do about them to improve our trading.

Here is your video:

You can download the video HERE.

The updated Trading Plan is HERE.

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