Opinion – Friday 28 July 2017

Yesterday’s trading session was marked by a mild bounce in the US dollar into the end of the month, amid encouraging signs that this afternoon’s US GDP might yet be a mild overshoot, but against the ever-present continuing saga that is Washington and the Congress. Some backtracking from Wednesday’s over-reaction has played out too. After testing well above the 80 figure yesterday, the AUD lost momentum into the London session as the USD recovered some of its mojo, the AUD/USD trading back down below the figure, currently around its session lows at 0.7965/70. Commodities have been mixed, there’s been little change in base metals (nickel has been the exception, up another 0.9%), iron ore is off marginally, gold up by $8.70/oz to $1264.40, while oil has made some further gains. The Euro and Sterling are also weaker since I posted 24 hours ago, the latter even after a stronger than expected UK CBI Retailers Survey reported a notable pick-up in sales.

To mark my 1375^th issue of Tradernoble daily Commentary I am offering a special 2 year rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day. This offer is open to both new and existing members and if anyone is interested can you please contact me on bryan@tradernoble.com for details.

For anyone following my Platinum Service it made 111 points yesterday and is now ahead by 1005 points for July, having made 1023 points in June, 1071 in May, 1376 in April, 1335 in March, 1481 in February and 1734 in January. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1700 points.