I am positive that reading this post, with its crossed-out words and red insertions, has been tiresome, but I also consider that the parallels amongst what happened about Brexit and the US presidential election are also sturdy for this to be coincidence. Just as technology and social media are upending standard models in firms, these two elections are signaling a alter in the political game and it is not just politicians, pollsters and political consultants who ought to be taking notice.
One point is certain, just 14 sessions ago the S&P stood at 2083 – barely hanging on to its 50-day moving typical. Friday, we closed 130 points larger at 2213. That pace reminds me of 1999, and NO it cannot go on forever. So, if OPEC announces a deal on November 30th, our industry will climb greater, and I would start off to lighten up ahead of the FED meeting on the 14th of December. If OPEC does NOT come away with a deal, I would begin to lighten up, and want to be out of practically all trades by the time the FED meeting rolls about.
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Thursday. There was a lot of economic news from numerous countries. All the information that I outlined as important previous week moved currency pairs a lot. Customer value data from Fantastic Britain sent all pound pairs down. gbp/usd fell 50 pips soon after the news was released. The very same happened to other pound pairs. Data from Canada continued pushing Canadian dollar down. From the time of the release up to now, usd/cad pair went up around 70 pips and continues climbing. This is true about other cad pairs. All of them continued falling. Information from New Zealand fundamentally met expectations. However, kiwi pairs began falling hours ahead of the news release. And when the news was released they weakened even more. All of the events could have been traded profitably making use of economic news trading strategy.