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Markets Morning 30112018

on November 30, 2018

Morning folks – Welcome to McKenna’s Market Mornings.

In a rush? Here’s the key takeaway

The USD fought back from its lows, stocks pulled back from their highs into the close in what was an indecisive day before the weekend’s big G20 meeting where increasingly my sense is traders are hoping for an outbreak of tradewar glasnost.

Can it happen? Sure it can? Will it happen? That’s complicated – see below.

One highlight Thurday was the release of FOMC minutes which suggest Jerome Powell did not blink after Trump criticism but rather the Fed is gebuinely data dependant. That’shardly positive for stocks if they pause when you consider why that might be.

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adminMarkets Morning 30112018

Markets Morning 29112018

on November 29, 2018

Morning folks – Welcome to McKenna’s Market Mornings.

In a rush? Here’s the key takeaway

Aussie dollar up 1%+, Kiwi up around the same, USD index down 0.55%, the Dow 617 points to the good for a rally of 2.5%, the Nasdaq 100 up 3.17% at 6,913 and the S&P 500 up 2.3% at 2,743 for a 61 point gain.

That’s what happens when a market wants to be bullish and interpret the Fed chair that way. Of course, he’s definitely shifted gears as I’ve highlighted before. Now for Trump and Xi at the weekend.

Oil collapsed, US bonds remained close to recent levels but oil collapsed and Bitcoin surged 13%.

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THANKYOU.
Thanks again to the more than 300 of you who took the time to fill out my survey.
There are close to that amount of comments and feedback as well so I’ll get to those in time. But thanks for those too, even the odd brickbat – and there were only a few – are still helpful. 
Anyway, here’s another set of stats – 75% of my readers/viewers trade forex, 56% stock indexes, 35% precious metals, 32% Oil and energy, 41% individual stocks, and only 4% cryptos.
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adminMarkets Morning 29112018

Markets Morning 28112018

on November 28, 2018

Morning folks – Welcome to McKenna’s Market Mornings.

In a rush? Here’s the key takeaway

Despite the upsurge in rhetoric, US traders seem hopeful that this weekend’s dinner between President’s Trump and Xi will deliver a thaw in the trade war. That’s a chance and it’s helped stocks stabilise and recover from the lows.

The US dollar was firmer across the board on the back of comments from Fed vice-chair Richard Clarida suggesting the Fed is still on track for more rate hikes. GBPUSD was under a little more pressure as forex traders worry Brexit has gone off the rails and gold and copper were lower.

Now for Fed chair Powell Wednesday.

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THANKYOU.
Thank you to everyone who took the time to fill out my survey.  It has given me a clear understanding of who the audience is and what you are looking for in a paid service. I’ll close the survey off at 7 am UTC Wednesday (6 pm my time). But if you haven’t had a chance and would like to fill it out you can find it here – only takes 3 minutes.
I’ll give you some insights into who else reads my note and watch my video later this week – just quickly though around 50% of you have been trading for 5 years or more and 20% say they are “grizzled pro’s”
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adminMarkets Morning 28112018