All in all, it's been a bit of a strange week, the US government shutdown hasn't helped. Although I do get a sense the currencies are behaving according to interest rate speculation.
Exhibited by the JPY, which spent most of the week on the front foot (October hike expected), until governor UEDA sent a dovish message (Loose monetary policy helps businessess = October hike uncertainty). And it's pleasing to see the JPY and USD end the week softly, which hopefully bodes well for next week.
The CAD is also under pressure (dovish BOC and falling oil price due to production hikes). The AUD has had a mixed week, starting with a hawkish RBA but soft data (and falling iron ore price) put the breaks on AUD positivity. I do think yesterday's trade was a case of myself being welded to an idea (AUD NZD long) and thinking I knew best, I disregarded the negativity surrounding the AUD at the time. I should have waited for signs of a more prominent reversal before placing the trade.
All in all, it's a week I'm glad to see the back of, hopefully the government shutdown will be resolved soon.
Weekly Review to follow, plus now the currencies are starting to behave a little more according to fundamentals,
rather than just the 'risk environment', I will very soon get round to a 'currency overview'. But hopefully you have your own 'currency overview' in mind. (Feel free to let me know your thoughts).
Wishing you a lovely weekend, I'm currently watching the trees dance with 60mph winds, expecting I'll be collecting my recycling up from the neighbours lawn in the morning.
Exhibited by the JPY, which spent most of the week on the front foot (October hike expected), until governor UEDA sent a dovish message (Loose monetary policy helps businessess = October hike uncertainty). And it's pleasing to see the JPY and USD end the week softly, which hopefully bodes well for next week.
The CAD is also under pressure (dovish BOC and falling oil price due to production hikes). The AUD has had a mixed week, starting with a hawkish RBA but soft data (and falling iron ore price) put the breaks on AUD positivity. I do think yesterday's trade was a case of myself being welded to an idea (AUD NZD long) and thinking I knew best, I disregarded the negativity surrounding the AUD at the time. I should have waited for signs of a more prominent reversal before placing the trade.
All in all, it's a week I'm glad to see the back of, hopefully the government shutdown will be resolved soon.
Weekly Review to follow, plus now the currencies are starting to behave a little more according to fundamentals,
rather than just the 'risk environment', I will very soon get round to a 'currency overview'. But hopefully you have your own 'currency overview' in mind. (Feel free to let me know your thoughts).
Wishing you a lovely weekend, I'm currently watching the trees dance with 60mph winds, expecting I'll be collecting my recycling up from the neighbours lawn in the morning.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.