September 18th, 2019

Fundamentals

Wall Street stock exchanges are declining ahead of a US interest rate decision today, and after the FedEx shipping giant lowered its earnings outlook. The US dollar and US government bonds are climbing.

The Nasdaq Index drops 0.2%; the S&P 500 and Dow Jones Index is down 0.3%. 

The Federal Reserve will announce the interest rate decision soon, and most economists estimate it will lower the interest rate by 0.25%. This will be the only lowering of the interest rate since the financial crisis more than a decade ago, after the central bank lowered the interest rate to 2% -2.25% in July. Central Bank Chairman Jerome Powell will hold a press conference half an hour after the announcement of the interest rate decision.

Open positions

USD/CAD

Pending positions

None

Closed positions

USD/JPY won 40 pips

GBP/CAD lost 29 pips

In my sight

FOMC Statement

Federal Funds Rate

FOMC Press Conference

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September 4th, 2019

Fundamentals

Wall Street stock exchanges are trading in a positive trend following the upswing in the European and Asian stock exchanges, as political tensions are dampening in countries around the world, ranging from Hong Kong to Italy and the United Kingdom.

The NASDAQ index is up 0.9%; the Dow Jones and S&P 500s are up 0.8%.

Open positions

EUR/USD

USD/CAD

Pending positions

None

Closed positions

Yesterday’s trade on USD/CAD lost 29 pips as the pair did not continue the hourly upward trend. The pair dropped today right after the rate statement and the expectation now is a technical correction back up.

In my sight

Plenty of CAD movement

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August 29th, 2019

Fundamentals

The US economy grew at a slower pace in the second quarter than initially estimated, despite improved private consumption.

Gross domestic product (GDP) in the US grew at an annual rate of 2% in the second quarter, according to interim data released today by the U.S. Department of Commerce. Initial data indicated slightly higher growth of 2.1%. 3.1% growth in the first quarter of 2019.

Private consumption, which accounts for about two-thirds of economic activity, jumped 4.7% in the second quarter - the sharpest jump since 2014 and above the forecasts of economists surveyed by Bloomberg.

Open positions

USD/CAD

Pending positions

None

Closed positions

Yesterday’s London trades on GBP/USD lost 29 pips each, as the market unexpectedly managed to break a massive support.

New York trade on USD/JPY recovered 40 pips. The trade was based on minor support and expectation of a stronger Yen. 

In my sight

No more major events today.

There will be no New York trade today. 

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August 28th, 2019

Fundamentals

US recession fears weighing on European stock exchanges as reversal in yield curve continues to be the most prominent sign of investor concerns. Now, the 10-year US government bond yield is lower than the two-year bond yield. Before every US recession in the last 50 years, there was a reversal in the yield curve, so there is a fear of a recession even now.

Open positions

GBP/USD

Pending positions

None

Closed positions

As you can see, I am trading the GBP/USD sideways position in the last couple of days. Yesterday’s London trade won 40 pips while the New York trade lost 29 pips. This morning a quick loss has came right on the opening of the London session and immediately I placed a correction trade once again which is now live. 

Net profit this month so far stands at 229 pips.

In my sight

Crude Oil Inventories

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August 20th, 2019

Fundamentals

Asian stock exchange has been on a mixed trend due to signs of positive developments in the US China trade war and estimates that government involvement will boost global growth.

Tokyo rose 0.5%; Hong Kong dropped 0.2%; Shanghai fell 0.1%; Singapore rose 0.3%; Seoul increased 1% and Sydney strengthened 1.2%.

Open positions

USD/CAD

Pending positions

None

Closed positions

Friday’s USD/CAD trade lost 29 pips as the pair managed to break a very important price level before the weekend. 

Yesterday’s EUR/USD trade lost 29 pips as the pair did not manage to complete the W pattern with the technical correction, eventually continued its massive downtrend. 

Today’s trade on USD/CAD is on its way to profit. 

This month net pip count stands at 157 pips profit so far, and plenty of time to go!

In my sight

CAD CPI tomorrow

No major events today and the market is pretty quiet (unfortunately)

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