At the end of the previous trading session I had the following position;
Long 300000 USDJPY with ACB of 79.968
In today's trading session markets rose as investor's sentiment improved.
The April data released regarding US exports increasing and imports decreasing lead to a narrower trade deficit, and markets rose as investors hopes for economic recovery is reignited.
I question the long-term validity of that Thesis, for we need to consider the entire body of economic data that has been released since April.
Personally I consider employment and housing data to carry the most weight in my assessment of economic growth, and I see only meek economic growth ahead.
In currency markets the USD has risen against the EUR during the last three trading sessions, possibly indicating rapid deterioration of the Eurozone situation.
Only time can tell.
Article - "Dollar rises despite hint of euro rate increase - Dollar gains ground as ECB signals July
rate increase, US trade deficit unexpectedly shrinks"
http://finance.yahoo.com/news/Dollar-rises-despite-hint-of-apf-4212285049.html;_ylt=AmZXINQ0VkYlNw.e8hDA6GCxba9_;_ylu=X3oDMTFlZm0yOXR0BHBvcwM3NwRzZWMDbmV3c0h1YkFydGljbGVMaXN0BHNsawNkb2xsYXJyaXNlc2Q-?x=0
Article - "Treasurys slip on weak demand for 30-year bonds - Bond prices ease after relatively weak
results at an auction of 30-year Treasury debt"
http://finance.yahoo.com/news/Treasurys-slip-on-weak-demand-apf-2696440504.html;_ylt=ArJnheGQcD4lFuDoY8drU7axba9_;_ylu=X3oDMTFlNTk1bnJwBHBvcwMzMARzZWMDbmV3c0h1YkFydGljbGVMaXN0BHNsawN0cmVhc3VyeXNzbGk-?x=0
Article - "Treasury market at a glance - Thursday's Treasury bond market at a glance"
http://finance.yahoo.com/news/Treasury-market-at-a-apf-2757655540.html;_ylt=Auw8RWoqovA0Gyx1DFTZMiKxba9_;_ylu=X3oDMTFlbTQxamE0BHBvcwMyOQRzZWMDbmV3c0h1YkFydGljbGVMaXN0BHNsawN0cmVhc3VyeW1hcms-?x=0
Ultimately as a Trader only the trades matter.
Currently I have the following position;
Long 300000 USDJPY with ACB of 79.968
USDJPY is currently 80.110 (2011-06-10, 02:31 am EST)
Total equity is 97% of June 1st, and unchanged from previous.
Stay Tuned,
Jeff
(2011-06-10, 02:31 am EST)
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