Interesting Day During NY Session...

T

Transatlantic

I found this morning [Thurs] during the NY Session to be interesing and quite challenging. Was it just me, or was there even more whipsawing and spikes than usual...

Of course there are always spikes around big news events, but it's seems recently there is some tendency for the instant reaction to be against the fundamentals of the data release (ie see the NY Empire Index or the Core CPI release this week!)

Also, two noteworthy things today:

1) It seems some major European bank *desperately* wanted the EUR/USD to go down today. At all costs. It was a streetfight, and ultimately they won...Chirac of France was also trying to talk down the EUR/USD...I say this not to complain but merely to get a discussion going...would like to know who the bank was if anyone knows...

2) Interesting that yet again another US Data release got leaked early (the Phili did today) I saw the rumor on the wires and ignored it as I thought it was the usual misinformation but it turned out to be true...

Finally, I have to say I lost some $$$ today. All is fair in love and war - I know the rules of the game so I'm not complaining. But I would be interested to hear if anyone has a profitable trading strategy for the NY Session this morning on the Big 3...(other than just staying out which might have been the right move) Otherwise, it seems like a big player really really wanted to move the Euro down...

Regards,

Transatlantic
 
Bizarre couple of months - difficult to trade data releases.

This month, I took points out of the market after ISM and NFP but could not find setups for International Trade, Retail Sales/PPI or the inflation data.

I traded the Swissie and Cable on the 8th and 15th respectively. Both in the London session.

+10.07% month to date.

I usually trade 7-8 times amonth. I have traded 4 times so far. The shortened trading week, next week, is likely to be a flat. The markets are making me work for my money!

Regards
Morty
 
The Philly Fed figures were on their web site early!

I have enjoyed the past 2 months - suits my style I guess.

For the past few days there has been a large central bank (ish) on the bid at 80 in ther euro but looks like they have gone overnight.
 
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