Moderate price action
- FTSE 0.33%
- Euro Stoxx 0.42%
- Dax 0.25%
- CAC 0.48%
- Bitcoin 3.09%
- US oil -0.38%
It was a very quiet session with American participants leaving for Thanksgiving celebrations. There have been some EU-UK comments with France and UK exchanging the usual picks on fisheries-related disputes. It’s become a political fight now with an almost pantomime feel in some ways.
The ECB minutes shed little light on the December rate meeting, the increase in Covid cases was adding to the anxiety of the European recovery, and we also had the Bank of England Bailey’s expressing on the dark arts of the BoE’s forward guidance. Markets almost insensitive to all of this. A bit odd moment was a Bailey who looked almost sorry, saying that the, “The line between comments and advice is quite blurry.” It can be said that one should not expect firm and reliable indications from the BoE.
In terms of currency movements, the NZDUSD has entered key support and found buyers. We talked about the importance of this level in line with the more positive outlook for the NZD.
We took advantage of the quieter weather with a few more general articles:
I’ll be back tomorrow with some more book reviews and one more life event reflection. Until then, take care of yourself and I’ll leave you in the very capable hands of Eamonn. Also, don’t miss Greg’s post. Greg’s analogy is really helpful and can help frame technical analysis in a way that works for you. Check it out here.