The Trading Floor
Guys what a week we have had! We decided to take our GOLD profits and the USDJPY SELL hit the take profit last night.
The SP500 SELL is our only current open position.
China casts doubts that a trade agreement can be met with President Trump. China has suggested they are unwilling to budge on a number of hurdles in the trade agreement. This caused a sell off on the US stock market from its record highs.
Additionally, the US reported some worse than expected initial jobless claims last night. The market is looking at unemployment and jobless claims in the US as it is currently at record lows, if the unemployment begins to increase, the US economy could be in a world of trouble! (This tends to happen prior to recession)
Tonight the US has its NON FARM PAYROLL report, we will not be trading this as we have secured and closed off all positions apart from the SP500, which should fall into a good profit if there is a negative result tonight.
We have a trade set up on the Australian Stock Market today.
Lets keep this winning run going!
Financial Market Analyst