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Markets Morning 26112018

on November 26, 2018

Morning folks – Welcome to McKenna’s Market Mornings.

In a rush? Here’s the key takeaway

As we kick off the week with stocks looking wobbly, oil capitulating still, and the US dollar if not in the ascendancy then at least getting its mojo back we are also faced with a new risk for traders to consider.

Russia and Ukraine have just had a naval confrontation with the smaller neighbor saying Russia blocked access to a strait, opened fire, rammed ships (there’s footage), seized them, and now Ukraine is essentially on a war footing.

Watch this space, though it shouldn’t overly impact. More troubling is the price action in oil and stocks. The USD caught a bid too, but not the Yen or gold, or even US bonds really – that’s interesting.

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I’ll be launching a subscription service soon – licensed now and just waiting on the website to be built – so this note and the video will go behind a paywall. As existing subscribers, you will get a special offer as we run up to Christmas.
More details in the next couple of weeks.
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Markets Morning 23112018

on November 23, 2018

Morning folks – Welcome to McKenna’s Market Mornings.

In a rush? Here’s the key takeaway

Not the quiet day it could have been with the US out for the Thanksgiving holiday. Europe decided to ruin the party by going into an Italian debt induced funk so and we saw stocks down across the continent and in the UK.

US and Australian futures markets joined in for the fun of it setting up a bad start to another thin day at week’s end.

Some positive hope on Brexit saw GBP rally but otherwise forex was quiet. But oil dropped again and base metals (but not precious) caught a lift.

——————–
I’ll be launching a subscription service soon – licensed now and just waiting on the website to be built – so this note and the video will go behind a paywall. As existing subscribers, you will get a special offer as we run up to Christmas.
More details in the next couple of weeks.
——————–
read more
adminMarkets Morning 23112018

Markets Morning 22112018

on November 22, 2018

Morning folks – Welcome to McKenna’s Market Mornings.

In a rush? Here’s the key takeaway

To my US readers – Happy Thanksgiving. I just want to wish you and yours all the best, both now and for the future.

Pre-holiday buying sees stocks and Italian bonds bounce, UST’s unmoved again, but USD lower.

You’d expect that I guess and after another big fall oil managed to rally. But like stocks and the Euro it couldn’t hold the full gains. That’s because markets are thin and traders have moved to the sidelines.

With the risk rally came gains for teh Aussie and Kiwi as well as copper and base metals. And of course Dollar Asia was lower.

——————–
I’ll be launching a subscription service soon – licensed now and just waiting on the website to be built – so this note and the video will go behind a paywall. As existing subscribers, you will get a special offer as we run up to Christmas.
More details in the next couple of weeks.
——————–
read more
adminMarkets Morning 22112018

Markets Morning 21112018

on November 21, 2018

Morning folks – Welcome to McKenna’s Market Mornings.

In a rush? Here’s the key takeaway

The routs continue, stocks, oil, bitcoin, hope.

I’m not being flippant by any stretch of the imagination with the addition of hope to that list of tings that are under pressure right now because markets are in a funk and looking for a circuit breaker. I note 3 potential ones below. But they are absent at present.

In the meantime stocks collapsed, bitcoin and oil fairly capitulated and the USD caught a bid. Even against the Yen, Swissie, and Gold. Maybe because US rates are steadfastly resolute and not rallying (falling)

——————–
I’ll be launching a subscription service soon – licensed now and just waiting on the website to be built – so this note and the video will go behind a paywall. As existing subscribers, you will get a special offer as we run up to Christmas.
More details in the next couple of weeks.
——————–
read more
adminMarkets Morning 21112018

Markets Morning 20112018

on November 20, 2018

Morning folks – Welcome to McKenna’s Market Mornings.

In a rush? Here’s the key takeaway

Stocks fell completely out of bed again Monday as concerns about the outlook for Apple feed into broader tech weakness and the overall tone of global stocks was knocked by worries about the trade war.

So we’ve seen some massive falls which have gone some way to unwinding any chance of a rally till Octobers lows are retested. Risk assets like the Aussie and Kiwi went offered while the Yen and Swiss franc caught a bid.USD weakness allowed the Euro to do the same.

Brexit still simmers as do tensions in oil markets, while the HODL’s of Bitcoin are more like a boiling frog.

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adminMarkets Morning 20112018