Weekly Review and Outlook 6th November 2017

Mark NugentNov 2017, Trading Plan

Weekly Trading Review – Week Commencing 30th October 2017

Highlights of the week

In the US, Monday saw Trump adviser Manaport indicted by Special Prosecutor for activities regarding Ukraine elections prior to working for Trump. Core PCE was on track. The Fed Funds Rate meeting kept interest rates unchanged and did not trouble the market. The pro-business Jerome Powell was confirmed as Trump’s choice for next Fed chair. Friday saw Average Earnings and NFP both miss expectations.

In the Euro Zone, CPI missed and GDP exceeded expectations.

The Japanese maintained interest rates at -0.1% as expected.

In the UK, all three PMIs beat expectations. The Bank of England raised interest rates for the first time in 10 years but Carney was quite heavy handed in damping expectations of a hiking cycle.

Risk sentiment over the week was changeable, starting the week “off” and then moving to a more “neutral/on” tone.

Themes for the week were:

1. Equity pullbacks in general – Didn’t happen
2. EUR weakness overdone? – EUR started the week well but gave all gains back on Friday
3. Oil at resistance – Broke through resistance on Friday, my bias is short
4. NZD weakness – Missed the boat

Performance

My FTSE100 long trade was taken out at breakeven on Wednesday.

The month of October closed out with a gain of +3.9%; year-to-date performance is +25.0%.

Weekly Trading Outlook – Week Commencing 6th November 2017

Major Events

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Here is your Weekly Review and Outlook video.

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 and plan for this week’s trading can be found HERE.


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