Hot Assets

Important news for the week:
Jan 20, 18:30 EU ECB President Lagarde Speaks
Jan 21, 10:00 DE German ZEW Economic Sentiment (Jan)
Jan 22, 15:00 CA BoC Interest Rate Decision
Jan 23, 12:45 EU ECB Interest Rate Decision (Jan)

World leaders will be meeting in Davos Switzerland for the World Economic Forum today with markets expected to edge higher this morning. This year we might see again different aspects on the agenda as climate change activist will attend the forum again alongside world leaders and more than 100 billionaires addressing major questions. Likely this will also influence how the participants view the US-China trade deal developments so far. This week we will have interest rate decisions from the BoJ, BoC and ECB. No change is going to be expected but as usual, the events could spark more volatility. Recently bad numbers out of the UK could also push markets to the conclusion that the BoE will soon further reduce the interest rate next week. Today’s markets will be shortened due to the Martin Luther King Jr. holiday in the U.S.

Oil could be pushed for a higher price after prices have spiked up this morning as outputs from two OPEC nations are interrupted. Libyan general Haftar blocked export from the national controlled ports and in Iraq works on an oil site have been halted. With energy markets remaining so supported we could see a further price increase coming. Elsewhere, Gold is slowly rising as global bourses seem to have reached a peak and the only way from here is down. XAU/USD was also supported as the U.S. Federal Reserve is expected to keep interest rates on hold at its first policy meeting of the year later this month.

● SPX500: we sold at 2900 with SL at 3035 and open TP (we run a small position and have removed the SL)
● #BA: we sold Boeing at 346.00 with SL at 390.00 and open TP
● EURGBP: we sold at 0.8335 with SL at 0.8650 and open TP
GBPUSD: we sold at 1.2995 with SL at 1.3135 and TP at 1.2780
● USDCAD: we sold at 1.3035 with SL at 13090 and TP at 1.2960
● XAUUSD: we bought again at 1556.50 with SL at 1548.00 and open TP
● GER_30: we bought at 13553.90 with SL at 13050.00 and open TP

Happy Trading,
Frank Walbaum

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