My FX Journal - 80% Fundamental 20% Technical

Brumby

Established member
593 135
Fresh data that just came out in the last couple of hours which generated some negative sentiments on the following currencies :

GBP
ONS survey released shows a 0.4% decline in full time workers inflation adjusted weekly earnings. This probably caused the 80 pips price drop on the GBPUSD.
AUD
RBA Ass. Governor Debelle' speech that CPI probably overstated by 0.25 ppt due to index re-weightings. This caused a 30 pips drop on the AUDUSD but prices had since recovered.
 

FXX

Experienced member
1,138 187
Fresh data that just came out in the last couple of hours which generated some negative sentiments on the following currencies :

GBP
ONS survey released shows a 0.4% decline in full time workers inflation adjusted weekly earnings. This probably caused the 80 pips price drop on the GBPUSD.
AUD
RBA Ass. Governor Debelle' speech that CPI probably overstated by 0.25 ppt due to index re-weightings. This caused a 30 pips drop on the AUDUSD but prices had since recovered.
I think the BOE rate hike is warranted to assist the negative effects of the currency devaluation. Other RBA data : Debelle said they are alert to the risk of wages remaining subdued even though slack is reduced.
 

FXX

Experienced member
1,138 187
GBPCAD retraced to a nice level to retest the highs again. Not too phased by the ONS survey
 

FXX

Experienced member
1,138 187
The peculiar thing is they have always had the open ended clause in their statements. Since announcing tapering it was always "as long as necessary" and "beyond the horizon" so it is much of the same here and i think we might get a dovish stance from Dragi to try and moderate the currency strength risk. I think I will take a cautious stance and look to take a short on a retrace if that happens. I want to see how price reacts to current levels.
 

FXX

Experienced member
1,138 187
positive UK news - Boris Johnson has unilaterally declared to EU citizens living in the UK that “your rights will be protected whatever happens” after Brexit.
 

FXX

Experienced member
1,138 187
interesting twist - Draghi "Decision wasn't unanimous"

That's hawkish leaving EURO in no-mans land
 

FXX

Experienced member
1,138 187
Tone turning more dovish for euro now following further ECB comments. This could be a good partial unwind of the build up to this event making it a multi session opportunity. Looking to target 1.5500 zone