Markets Morning 19112018

on November 19, 2018

Morning folks – Welcome to McKenna’s Market Mornings.

In a rush? Here’s the key takeaway

The weekend face-off between the US and China at APEC has put some pressure on markets as they open the week with the Aussie and NZD lower – reflecting that tension.

But that comes after President Trump said Friday – again – China wants to make a deal and Fed vice-Chair Clarida implied the Fed is edging closer to a pause taking note of offshore weakness and its impact on the US economy. So stocks edged up, the USD fell, and bond rates rallied.

We could be seeing a change in tone in markets. But let’s see how the trade war and Brexit play out.

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Markets Morning 16112018

on November 16, 2018

Morning folks – Welcome to McKenna’s Market Mornings.

In a rush? Here’s the key takeaway

The resignation by Brexit Secretary Dominic Raab and ructions in the UK government caused the Pound to tank and bought the chances of a no-deal Brexit back into the harsh light. But other than that the US dollar has been under pressure and stocks have risen as positive noise on the trade deal with China have been heard.

There is a different feel in non-brexit related markets today and its more positive, much so. Particularly given the US administration disavowed the positive headlines. Fake news folks, it’s turning the algos and thus markets inside out.

But the positivity is interesting.

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adminMarkets Morning 16112018

Markets Morning 15112018

on November 15, 2018

Morning folks – Welcome to McKenna’s Market Mornings.

In a rush? Here’s the key takeaway

Theresa May has got her Cabinet to agree to the Brexit deal with the EU. Sterling, the Euro, and other currencies cheered as the USD came under pressure.

Stocks aren’t so pleased though as Apple and Goldman Sachs remain a little pressured and the buyers are absent from the market. So the downside pressure remains.

Oil, gold, silver and copper’s downside pressure has abated a little but Bitcoin (yes remember that) has collapsed falling 13%.

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adminMarkets Morning 15112018

Markets Morning 14112018

on November 14, 2018

Morning folks – Welcome to McKenna’s Market Mornings.

In a rush? Here’s the key takeaway

There is a lot of chat about trade talks between the US and China in the leadup to the G20 meeting between the nation’s Presidents. But that failed to hold US stocks in the black as they gave up their gains.

So too did the US dollar with some faux Brexit positivity (okay it was real but the chances of getting the deal through the Commons seem not) and a thin market driving GBPUSD higher taking most other pairs along for the ride.

Oil utterly collapsed with a 7%+ loss for Brent and WTI while gold, copper, and silver held support.

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adminMarkets Morning 14112018

Markets Morning 13112018

on November 13, 2018

Morning folks – Welcome to McKenna’s Market Mornings.

Morning folks – Welcome to McKenna’s Market Mornings.

Short Version today folks
Hi everyone, my apologies for the brevity of today’s report.

As you know I’ve been using MailChimp as my CMS to talk to you daily as I await my website upgrade, which apparently isn’t far off. Anyway, I was in the last stages of this mornings report when I hit control z to undo something just before sending and I lost all my work.

4 and a half hours worth of work.

Stuff happens in life as well as trading and writing, so no point worrying too much. But I can’t recover what’s lost so let me give you the short form version and a few charts

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adminMarkets Morning 13112018

Oil Bounce – How Far Can It Run?

on November 12, 2018

Special Report


The key takeaway

After a 20% fall in the price of crude, OPEC has resumed its actions and attempts to manipulate price over the weekend with news it will look at a production cut for 2019. Just as it has since the lows of 2016 OPEC has first exercised its jawbone to gauge whether it does need to adjust production.

The question now for traders who have ridden the move lower with me is how high and how far can the bounce in oil extend. Will it rally sustainably at all?

The charts suggest WTI could bounce into the $65.50/$66.00 and Brent toward $76 and still be in a bear market.

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adminOil Bounce – How Far Can It Run?