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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 money market update for November 4, 2024, covered the upcoming US election and its potential impact on currency markets. The US dollar remains strong, but is pausing before the election, while the Japanese yen and Kiwi are weaker. The Euro is showing signs of improvement, despite political instability in Germany. Key indices like the DAX and S&P 500 are experiencing volatility, with some short-term bearish trends, as traders trim positions before the election . The session highlighted the importance of managing risk and positioning for the week's events, including the UK interest rate decision and the US FOMC statement. Paul emphasized the need for careful analysis and cautious trading strategies during volatile periods.
Today we looked at; FX STAM, Trump Media & Technology Group Corp ($DJT), Super Micro Computer Inc ($SMCI), and Intel Corporation ($INTC).
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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