Subdued price action
- UK Health Security Agency: B.1.1.529 COVID variant, 'most challenging yet'
- French Health Minister: France's borders 'reinforced' over COVID surge
- ECB minutes add nothing new, but set up an interesting December
- Trading gold and silver right now
- Review: Diary of a professional commodity trader
- Bailey: supply problems causing inflation should be temporary
- Portugal: Indoor mask wearing is back.
- Top tip: USD weakness reigns year end
- What 20 years of marriage taught me about trading
- Risk, reward & expectancy: What you need to know!
- NZDUSD is sitting at key value area
- Watch the USD closely now as the Fed starts to shift pace
- Quick look around markets during Thanksgiving US session
- Merkel concerned over spreading COVID-19
- French Foreign Ministry ready to retaliate over post-Brexit fishing licenses
- Canada average weekly earnings 2.58% vs 2.56% y/y prior
- FTSE 0.33%
- Euro Stoxx 0.42%
- Dax 0.25%
- CAC 0.48%
- Bitcoin 3.09%
- US oil -0.38%
It was a very quiet session with US participants away for the Thanksgiving celebrations. There were a few EU-UK comments out with France and the UK exchanging the usual barbs over fishing disputes. It has become a political fight now with a nearly pantomime feel in some respects.
ECB minutes gave little light to the December rate meeting, rising Covid cases were adding to European recovery angst, and we also had Bank of England's Bailey speaking on the dark arts of BoE forward guidance. Markets pretty much unmoved by any of it. One slightly odd moment was an almost apologetic sounding Bailey saying that the, 'Boundary between commentary and guidance is quite murky''. We can say that firm, reliable guidance should not be expected from the BoE.
In terms of currency moves the NZDUSD moved into key support and found buyers.We spoke about the importance of this level in line with the more positive outlook for the NZD.
We made the most of the quieter time with some more general posts:
- A guide on trading gold and sliver
- A book review from a commodity trader
- A look at the seasonal dynamic which impacts the USD around this time of the year
- A crucial risk, reward, vs expectancy post
- A reflection on my 20 years of marriage and how it relates to trading.
I will be back tomorrow with a few more book reviews and another reflection from a life event. Until then take care and I will leave you in the very capable hands of Eamonn. Also, don't miss Greg's post. Greg's analogy is really helpful and may help frame technical analysis in a way that is just right for you. Check it out here.