All the news fit to print amounted to a grand total of zero overnight. As the world (sans the UK) goes on holiday today – with even China off – markets are coming to terms with what has been a rather eventful few days and breathing a much-needed sigh of relief that the long weekend is truly upon us.
We’ve only got Canadian Manufacturing data and US ISM and confidence prints to look out for today in what will likely prove to be an otherwise quiet and rather thinly volume-driven session.
Having already witnessed (a leaked and softer) UK Manufacturing PMI, there remains little to actually go on in terms of direction today.
Once again for the sake of transparency, I remain short of Cable and have now also lost my first clip of EURAUD on this morning’s disingenuous spike higher in the cross. Stops in the AUD were taken while someone chose the thinnest part of the day to run some latent EURUSD stops above the 1.1250 area, and as the French would say, voila!
Given the current environment of trepidation in markets coupled with holidays in Europe today and in the UK on Monday, it is painfully obvious I’ll have to run this position through the Reserve Bank of Australia meeting next week.
I am not a fan of leaving myself at the mercy of a central bank decision, and I am also banking on my "RBA fails to move" thesis being proven correct. The subsequent covering squeeze of front-running (media driven) shorts coupled with consolidation in the EURUSD should hopefully see the cross lower on mean reversion.
Little else to add today folks, given the obvious dearth of activity and thus the accompanying lack of interest.
A good weekend to all and remember to avoid ruining it with a cheap Friday punt.
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
FX Noon: A Sigh Of Relief
Published 05/01/2015, 08:35 AM
Updated 03/19/2019, 04:00 AM
FX Noon: A Sigh Of Relief
Latest comments
Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.