By Chris Becker
Friday night saw the return of US traders to their desks and waited for any news about the ongoing US/China trade negotiations, with a mild risk-off session the result. Wall Street didn’t make a new record high – shock and horror – while bond yields fell as markets price in a near zero chance of another rate cut from the Fed in December. The USD lost some ground, with gold firming slightly, while oil prices took a big reversal on concerns OPEC won’t extend production cuts.
It’s a big week of data as we get closer to the short Christmas/NY “break” so volatility is ramping up = more opportunity!