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 outside of the Thanksgiving celebrations. There were some comments between the EU and the UK with France and the UK exchanging the usual barbs on fishing disputes. Now it has turned into a political fight with an almost pantomime feel in some respects.
The ECB minutes shed little light on the December rate meeting, mounting Covid cases added to the heartache of the European recovery, and we also had Bailey of the Bank of England speaking about the dark arts of the Bank’s future orientation. from England. Markets practically indifferent to any of that. A slightly strange moment was an almost apologetic sound from Bailey saying that he, ‘The boundary between comment and guidance is pretty murky.’ ‘ We can say that firm and reliable guidance from the BoE should not be expected.
In terms of currency movements, the NZDUSD moved towards key support and found buyers. We discussed the importance of this level in line with the more positive outlook for the NZD.
We make the most of the quieter time with some more general posts:
I’ll be back tomorrow with some more book reviews and another reflection on an event in my life. Until then, take care and I will 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’s right for you. Check it out here.