Let’s see how Thursday is rolling out.
- USD (white) most bid that session +1.02%.
- GBP (blue) most sold that session -1.05%.
- More negative flow -4.2%.
Ok. Looks like we have some continuation going on today. It’s a strong Dollar and a weak GBP. Well, let’s see what the running daily totals are for those 2.
I guess all you had to do was add both sessions up, huh? Well, anyway, that’s what it looks like for today. Money kept going that way. In fact, look there. What happened yesterday during the US session? I was telling you just earlier this morning that it was such a big move yesterday that today seems like a retracement from that move. Ok. Well, it’s still continuing. Then…let’s add it up. How much of a retracement took place so far?
The USD retraced 89% from what it lost yesterday during the US session. So, it didn’t quite recoup all of it’s losses, yet.
The GBP retraced just about 40% from what it gained yesterday during the US session. So, it is a bit away from half of what it gained yesterday.
Basically, what I am seeing is the Pound has taken such a big gain only to lose right around half the amount. And we all know that there could be so much more for them to lose. And in regards to the USD. Seems to me that their not supposed to be all that weak. It has some strength. Or else money probably would want to go to the JPY (purple). But nope, the Yen is much weaker than the Dollar.
And the Comms aren’t all that strong. Sure, they are, but definitely are not the go-to currencies. I guess things need to be just right for them to gain some legs.
I don’t know. It’s all relative.
They are quite spread out on the context of how they are relating this month.
Yeah, I would say the market is pretty quite mixed. No real conformity taking shape. It’s probably Europe’s fault. You know…if they had their act together, this world would be in better shape. The US can only do so much. Know what I mean?
I bet once this Brexit matter gets settled, we should be able to tell, one way or the other (and I don’t care which way), global sentiment. If they did get things straightened out, I think that would tremendously help out the Emerging Markets. That’s probably the biggest driver when it comes to risk-on being prevalent. How well those countries do definitely tells you where the money wants to go. If they are on the up, then money goes there. If down, away and to safe havens it goes.
Ok. That’s enough nonsense for one day.
Make it a good day.
And by the way…if anyone wants to talk about those fundamental sentiments, I’m your guy.
But, I also understand that some other things are more important. Like figuring out a trading strategy.
MY DAILY’S.xlsx (432.1 KB)