European Session June 23
Other markets
. It remains a buy on the dips. There are rumours circulating that a deal is getting closer between Iran and the US, but no confirmation yet. However, even though a deal should send oil lower in the immediacy, this dip should find buyers as the fundamental outlook is strong.
Don’t add to losing trades
Another very common trading mistakes that people make is adding to a losing trade. The thinking is that by adding more to the position the original loss will be compensated by an even greater reward. It is an easy mistake to make, but it ends in over exposure to one market.
Just don’t do it
Sometimes in trading we can be very uncertain regarding a trade. You know the sentiment is just not that clear, so you may start to feel uncomfortable.
Mortgage Bankers Association for week ending 18 Jun
Mortgage market robust and plenty of growth in the pipeline. Refinancing up shows more applications are in the pipeline. Purchase index higher too which is used for the sole purpose of buying a private home.
European Session June 22
Other markets
– FTSE +0.22%
– Euro Stoxx -0.3%%
– Italian FTSE -0.43%
– Dax +0.05%
– CAC +0.05%
Oil was further supported on demand recovery hopes & OPEC+ is making sure supply is tight. Private inventory data out tonight. The drag on inventories and the pushing out of alongside raising bullish forecasts have all supported the crude complex. The
Hawkish dot plot shift
The latest FOMC meeting saw a hawkish tilt that the market had not been expecting. Going into the meeting there was anticipation that a hawkish outcome could involve projections for a 2023 median rate hike. In the end the dot plot saw more members opting for earlier rate hikes in this meeting
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