- Global Stock indexes all close higher.
- China GDP outlook upgraded.
- Soft Brexit talks being voiced by insiders.
Data of interest:
- UK Data focus
- Unemployment Rate expected 4.6, previous 4.6
- Average Earnings expected at 2.3%, previous 2.4%
- European focus
- Industrial Production exp 0.5%, previous -0.1%
- US data focus
- Core CPI
- Core Retail Sales
- Crude Inventories
- FOMC Economic Projections – inflation, jobs, interest rates, gdp outook etc..
- Fed Interest Rate decision (expected 25bp hike, upset would be no hike)
Looking for the short from higher up on positive wage growth readings and higher than expected unemployment reading. Alternative trade would be the inverse and a quick play on volatility on negative data.
- Entry low of the snap election gap @ 1.2830 (confluence r2)
- Stop @ 1.2847
- Target 1 R1
- Target 2 low of the day
- Target 3 S1