21st Oct - FXTP Monday Market Update - Is the Trump Trade in full swing?
- Paul Wallace
- Oct 21, 2024
- 1 min read
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Hello Traders,
Thanks to those of you who joined us today. I should reiterate that the Monday Market Update is just that. A big picture overview of the markets, with a few 'charts of interest' thrown in. There are no trade recommendations, this is not a signal service, nor trade recommendations - just what I am looking at and interested in.
The Monday market update for October 21, 2024, highlighted the strength and weakness in FX markets. Sterling and the Aussie dollar led, while the Swiss franc, Euro, yen, Kiwi, and Canadian dollars showed varying degrees of weakness. Key indices like the S&P 500 and DAX continued their bullish trends. Gold and silver remained strong, with gold breaking $2,700 and silver surpassing $33. The US dollar strengthened against multiple currencies, indicating potential market shifts. The conversation also touched on the "Trump trade" and its impact on markets, emphasizing the importance of following market trends and data.
Today we looked at; FX STAM, Trump Media & Technology Group Corp ($DJT), Bitcoin/USD ($BTCUSD), US Dollar v Mexican Peso ($USDMXN) and RTX Corporation ($RTX).
We also covered the usual suspects: $DJIA, $NDX, $SPY, $RTY, $DAX, $FTSE, $N225, $WTI, $XAUUSD, $XAGUSD, $BTCUSD, $USD, $DXY, $JPY, $AUD, $CHF, $NZD and $GBP.
Have a great trading week, and I’ll see you next Monday at 1230.
Trade well,
Paul
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