Weekly Review and Outlook 11th September 2017

Mark NugentSept 2017, Trading Plan

Weekly Forex Review – Week Commencing 4th September 2017

Last week was mostly risk off due to last weekend’s North Korean H-Bomb test, fading chances of a Fed rate hike this year and, latterly, Hurricane Irma. There was a short period of a more positive risk tone when it became clear the US Congress would extend the debt ceiling and the North Korean rhetoric became more measured, but it was short lived.

On the calendar, the RBA kept rates at 1.50% as expected and GDP came in on target at 0.8%. The Canadian central bank surprised most observers by raising rates 25 basis points to 1.00%. The ECB kept the interest rate and the QE programme unchanged.

The USD made a sustained move down below support. Most equity indices were down on the week, except the Euro50. Oil dropped on Friday, wiping out the week’s gains and ending flat on the week. Gold moved up on the risk off sentiment. The US 10 Year yield moved down over the four days the market was open.

Regarding currencies other than the USD, the JPY strengthened in four out of the five days of the week. The GBP broke up through short-term resistance on Friday, ending the week up. The CAD rose on the unexpected rate hike.

Two trades closed last week. Trade 55 (USDJPY long) lost 0.08% and Trade 56 (Japan225 long) closed at breakeven.

Weekly Forex Outlook – Week Commencing 11th September 2017

Major Events

It will be critical on Monday to judge risk-sentiment in the wake of Hurricane Irma. It may take some time for the markets to calm down.

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Here is your Weekly Review and Outlook video.

I discuss last week’s trades at 4:00 and this week’s trading plan at 9:00.

You can download the video HERE. If it starts to play in your browser, right click on it and select “save video as” or similar and it will download to your machine.

The themes for this week’s trading can be found HERE.

Profiles are HERE (Trades) and HERE (Dashboard).

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