Hot Assets

Important news for the day:
Oct 18, all day UK European Council on Brexit

U.K. Prime Minister Boris Johnson agreed on a new Brexit deal which was unanimously backed by European Union leaders on Thursday, but must now fight to secure approval from British lawmakers in a vote on Saturday. The news send the GBP rallying and are expected to continue to keep the sterling supported. Meanwhile, gold prices held steady on Friday after Britain managed to eke out a deal for its exit from the European Union, lifting risk appetite, while a sluggish dollar provided support to the metal. Elsewhere, Chinese numbers disappointed pointing to a further weakening in the global economy. Global bourses will possibly weaken further on this weak data which spreads concerns of a global recession. In the Turkey/Syria front US and Turkey reached a Syrian ceasefire a week after President Donald Trump withdrew US troops from the Kurdish-held area and effectively cleared the way for a Turkish military operation against the Kurds.

● SPX500: we sold at 2900 with SL at 3035 and open TP (we run a small position and would remove SL for now)
● EURNOK: we sold a small position at 10.1515 with SL at 10.30, willing to add more if market goes higher
● GER_30: we bought at 12565 with SL at now at 12575 and TP at 13320
● NZDJPY: we like to sell at 66.40 with SL at 69.50 and TP at 60.00
● XAUUSD: we like to buy at 1540 with SL at 1450 and TP at 1650

Happy Trading,
Frank Walbaum

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