Sterling's rare superiority in the "fundamentals is seen in the charts of the global PMIs for manufacturing and services. For the first time in over 5 years, UK PMIs in both services and manufacturing have surpassed those of the US, China, Eurozone and Germany. With the Bank of England going as long as 12 months without increasing monthly asset purchases, such relative policy positioning is becoming increasingly positive for the currency. And with UK data hovering from neutral to positive, the case for additional asset purchases is weakened.
Before I tell you about the AAOI Trade I shared with the WhatsApp Broadcast Group last week (now up 38% in less than 5 days), just a few quick words about the Fed. Wednesday's rate cut coupled with no hawkish surprises from Powell's conference was a launchpad for USD weakness, metals strength and equities' surge (Dow30 hit new record). Markets can look beyond Oracle's disappointing earnings to eat the dish served by the Powell (lower rates, short term liquidity while inflation isn't completely vanquished). Anytime you hear/see/smell rate cuts during an inflationary environment, the above occurs. Altcoins and Bitcoins are slow to rally, but Bitcoin miners afre flexing their muscle. See below the AAOI Trade I shared with the WBG, whereby we entered at $26 on Friday and now its $36. Meanwhile, Reddit is up 68% since we bought it in July.
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Latest Hot-Chart - Nov 24
Updating post 9th
سأرسل رسالة صوتية و كتابية توضيحية لأعضاء مجموعة الواتساب الخاصة حول هذه المخططات - Will send detailed note on latest parameters to our WhatsApp Bdcst Group - -...
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Uncertain December
The oscillating changes in market expectations for the December FOMC meeting implies more volatility into the next 4 weeks.
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