Good morning.
Here’s more Wednesday.
Quarterly table.
- JPY (purple) most bid currency that time +.70%.
- GBP (blue) most sold currency -1.04%.
Well, not a whole lot of buying or selling happening. I guess it’s getting reserved for later on in the US session. That would be due to the FOMC meeting that we have at 2pm, my time.
And we know that the Dollar (white) will be the most volatile currency. But…that surely has effects on the others.
Check out the CAD (brown). Man, they are still on the bid. They simply are not going away. As you can see, they took a hit yesterday during their session, only to bounce right back in it today. Plus some. But…of course…the day isn’t over. These are just snap shots. I have 3 of those inside of a day. At the end of each session.
So, I wanted to talk a bit about what’s going on in the monthly only table. Let’s look.
That’s zoomed out as much as I can go. Little over a week.
Basically, the USD has been the most bid currency for this month (white). But, you can see that coming into this week it surely has come down.
The JPY (purple) has tried to get above 0%, but can’t do it. It’s dropping. And I think that’s due to a dropping Dollar.
The AUD, NZD, have really struggled in the beginning of the month, but ever since last weeks bomb from the NZD, for the upside, they really are trying to come on out of the bottom. And really, I think that has a lot to do with the US and China trade talk lately.
The CAD (brown) has kept with their prevailing trend throughout this month.
The GBP (blue)…they are so tough to summarize. They have such good days along with some bad days. At least they are keeping with their prevailing trend, which if you look at the quarterly table, they have stayed in the positive running % since the start of the year.
The EUR (yellow) and the CHF (pink), for the most part, have just kept quiet and not really going anywhere. Their prevailing trend has been in the negative %'s.
So, given what happens today with a move of the USD, that should push the particular currencies in their ways. And if that means with the prevailing trend, then we should see more risk-on currencies (Comms) being bought again, and the JPY to sell off more. Along with the CHF.
Look. Anything can happen. I think the best way to think about is whether or not the prevailing trend will continue or not. How many other ways are there to look at it? Know what I mean? But…I do know one thing for sure. They will relate to one another in some kind of way. And that’s the reason why I get up in the morning. To find it out. And to trade accordingly.
Alright.
Enough nonsense. Let’s make this a good day.
Mike
MY DAILY’S.xlsx (364.6 KB)