THURSDAY DATA (Trade reaction):
- SW and GER closed
- 0050 JAP GDP up to 4.1% MBTE
- Tentative SPA 10y bond ???
- 0200 AUS inflation expectations fall slightly to 3.1%
- 0530 JAP Ind Prod up to 1.3% MoM and 14.2% YoY BTE
- 1330 US Thursday Jobs report BTE = long USD, WTE short USD
- 1500 US Leading BTE = long USD, WTE short USD
- 1500 US Philly Manu BTE = long USD, WTE short USD
- ECB stop leading to some GRE banks prompting GRE exit from EU.
- JAP Economy grows faster than expected on Quake reconstruction.
- Asia closes up on Jap GDP
- Fed signals more easing possible = stocks up
Correlation: EURUSD High with GBPUSD and XAUUSD high neg with USDCHF.
Leading Pair: NA
As of 0800 GMT EURUSD…
ID (Emotional Bias/reaction to news): Long USD
EURUSD chart action: In down trend, currently ranging around the 1.27 level.
Potential Trade: Short on BD of S1, in the mean time look for trades off S&R.
Watch out for: Lots of data throughout day and tentative 10 GER bonds.
Plan: Try to get long USD on Range BO. In mean time scan for scalps within range. Placing careful EUR trades before SPA debt auction (keeping http://www.bloomberg.com/tv/ on) and lightening up at…
1. 1330 for US Thursday Jobs
Reaction:
2. 1500 for US Leading and Philly manu
Reaction:
Personal Notes:
Not liking the morning action, will sit on the side line until something more decisive happens. Best of luck to the rest of you.
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