The Services and Manufacturing Industry Flash reports are out above expected across the board in the Eurozone and just a hair shy than forecast for the US Dollar. The Bank of England forecasts a peak of 5% inflation for the GBP by the second quarter of 2022. We are still bullish for the DXY and bearish for USOIL.
In todays live session we did a full breakdown of the Market Maker Buy Model or MMBM and how to apply context to price when buying in either an up or down trend, this helps us understand how to use tools like optimal trade entries, run on stops, order blocks, voids, gaps & etc. These elements should not be used to trade on their own without first getting the price context. Make sure to watch the recorded session from today to download this to your brain.
For a detailed breakdown of todays markets please watch the prerecorded Past Live sessions as the story unfolds across both London and New York recorded sessions.
For tomorrow, data is concentrated due to Thanksgiving so we are watching the preliminary GDP report and expecting the actual numbers to come in above forecast. The USD Core PCE Price index is also looking to come in above target. We are also staying close to the FOMC minutes and could expect potential inflation number talks if not reevaluation based on last weeks FOMC speeches where we were given the hint of a strong Q4 by the Fed, but this could very well roll over to Q1 of 2022.
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