Trading Diary & Market Update ~ Thursday 31st March 2016

07:55am  Another day at home ahead of a long weekend away – any trades I have will be reported below.

Market Update:

Markets are still riding high on Janet Yellen’s remarks on Tuesday when she hinted that an April rate rise was off the table and traders are now wondering whether there is any likelihood that June is going to host a rise in the minimum lending rate in the U.S.

The overnight Asian markets finished mixed but with a general air of optimism  with the exception of the Japanese Nikkei 225 which fell mainly on the strength of the Yen. This sentiment has not spilled over to the European open this morning where the Dax-30, CAC-40 and FTSE-100 are both down slightly as I write and price action will probably be fairly limited today ahead of tomorrow’s U.S. jobs data. As the world’s largest economy, these numbers are probably the most important piece of data that is released during the month so traders start early in getting their positions right before tomorrow lunchtime’s announcement.

The Gold price did surge on U.S. interest rate expectations on Tuesday evening but over the last 24 hrs it has retraced backwards to finish yesterday down almost $16 at $1224.90 although it has risen slightly this morning, currently sitting at $1229.70.

Trading Diary:

10:10am   Not much to see on my favourite charts, so I am off for a cycle ride for an hour or so.

11:55am  Back now and just scanned my charts but nothing to see so going to turn off screen now. I shall be back trading on Monday.

 

This entry was posted on Thursday, March 31st, 2016 at 7:57 am and is filed under Trading Days. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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