Weekend trade report
Last week we achieved the following results. 3% overall. The automatic trades did not do as well. The manual trades closed with profit.
At the moment only this trade is open:
Open Date Symbol Action Open Price SL (Price)
08.04.2023 15:02 EURCHF Buy 0.96149 0.95489
In the coming weeks, fewer trades will be introduced due to the holiday period.
News that stood out this weekend:
Container company AP Møller-Maersk is gloomy about the outlook of the global economy. The company expects global demand for containers to fall by 1 to 4 percent this year. Previously, the company expected a contraction of between 0.5% and 2.5%. The demand for containers is seen as a good indicator of the health of world trade.
Maersk warns that a possible recession in the West and China's struggles since the pandemic will have an impact on container shipping in the second half of this year. Industrial companies are reluctant to purchase new stocks, which means there is less to ship.
This will take place in the autumn at the fair. But with this news, the increase in metals will also increase again. Risks must be avoided. We will take a fixed position in gold or silver in the autumn where we will hedge our currency risks.
Our rationale is supported by the FED meeting. In it, the fed governors stated that US interest rates may not yet reach their highest point, now that figures on the economy in the United States do not yet show a clear effect. Michelle Bowman, governor of the Federal Reserve, said this at a meeting in Kansas on Saturday. Last month, the Fed raised interest rates to an all-time high of 5.25%-5.50%, the highest level in 22 years. Since then, the question has been how the Fed will proceed. Fed boss Jerome Powell himself indicated that he would mainly look at the economic data in the coming period, before a choice is made. There may be a pause before interest rates are raised further. Governor Bowman added on Saturday that the recent lower inflation figures were positive, but she still wants to see "consistent evidence" that the price level is indeed on its way to the desired 2%. "I will also look for signs of lower consumer spending and signs that the labor market is becoming less tense."
In addition to positions in metals, it will also be examined whether a position against the Dollar can be taken given the economic figures that will have a negative impact on the Dollar.
As we started our holiday season, so did the news. For the coming week, these are the news items:
Mon Aug 7
Tue Aug 8
Wed Aug 9
3:30 CNY CPI y/y -0.5% 0.0%
5:00 NZD Inflation Expectations q/q 2.79%
Thu Aug 10
14:30 USD CPI m/m 0.2% 0.2%
USD CPI y/y 3.3% 3.0%
USD Core CPI m/m 0.2% 0.2%
USD Unemployment Claims 231K 227K
Fri Aug 11
8:00 GBP GDP m/m 0.2% -0.1%
14:30 USD Core PPI m/m 0.2% 0.1%
USD PPI m/m 0.2% 0.1%
16:00 USD Prelim UoM Consumer Sentiment 71.7 71.6
Basically only Thursday and Friday news to keep an eye on. CPI and PPI.
At the moment only this trade is open:
Open Date Symbol Action Open Price SL (Price)
08.04.2023 15:02 EURCHF Buy 0.96149 0.95489
In the coming weeks, fewer trades will be introduced due to the holiday period.
News that stood out this weekend:
Container company AP Møller-Maersk is gloomy about the outlook of the global economy. The company expects global demand for containers to fall by 1 to 4 percent this year. Previously, the company expected a contraction of between 0.5% and 2.5%. The demand for containers is seen as a good indicator of the health of world trade.
Maersk warns that a possible recession in the West and China's struggles since the pandemic will have an impact on container shipping in the second half of this year. Industrial companies are reluctant to purchase new stocks, which means there is less to ship.
This will take place in the autumn at the fair. But with this news, the increase in metals will also increase again. Risks must be avoided. We will take a fixed position in gold or silver in the autumn where we will hedge our currency risks.
Our rationale is supported by the FED meeting. In it, the fed governors stated that US interest rates may not yet reach their highest point, now that figures on the economy in the United States do not yet show a clear effect. Michelle Bowman, governor of the Federal Reserve, said this at a meeting in Kansas on Saturday. Last month, the Fed raised interest rates to an all-time high of 5.25%-5.50%, the highest level in 22 years. Since then, the question has been how the Fed will proceed. Fed boss Jerome Powell himself indicated that he would mainly look at the economic data in the coming period, before a choice is made. There may be a pause before interest rates are raised further. Governor Bowman added on Saturday that the recent lower inflation figures were positive, but she still wants to see "consistent evidence" that the price level is indeed on its way to the desired 2%. "I will also look for signs of lower consumer spending and signs that the labor market is becoming less tense."
In addition to positions in metals, it will also be examined whether a position against the Dollar can be taken given the economic figures that will have a negative impact on the Dollar.
As we started our holiday season, so did the news. For the coming week, these are the news items:
Mon Aug 7
Tue Aug 8
Wed Aug 9
3:30 CNY CPI y/y -0.5% 0.0%
5:00 NZD Inflation Expectations q/q 2.79%
Thu Aug 10
14:30 USD CPI m/m 0.2% 0.2%
USD CPI y/y 3.3% 3.0%
USD Core CPI m/m 0.2% 0.2%
USD Unemployment Claims 231K 227K
Fri Aug 11
8:00 GBP GDP m/m 0.2% -0.1%
14:30 USD Core PPI m/m 0.2% 0.1%
USD PPI m/m 0.2% 0.1%
16:00 USD Prelim UoM Consumer Sentiment 71.7 71.6
Basically only Thursday and Friday news to keep an eye on. CPI and PPI.
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