Thursday, May 12, 2011

back from an amazing vacation!

Hello fellow traders!

I've just gotten back this week from an amazing mini  vacation trip which also included my best friend's wedding!

still suffering from a bit of a holiday hangover, so getting back into the markets taken me a bit longer. Definitely seems as though dollar bulls have been on a partying streak too, when i look at the charts!

Finally the Greece debt worries has pulled the Euro down, as well as the sell-off in commodities especially oil! I do see Euro approaching a strong support level at 1.4160, so lets see what happens there.

last night was the GBP inflation report which of course came out higher, which initially pushed the sterling higher on the market belief that a rate hike could take place in august. But that didn't last too long as the stronger risk sell-off movement pushed cable lower again.

there's data out tonight too, but does seem as risk-aversion is taking place. Do we see a trend change towards a dollar bull?

Data Today
UK industrial and manufacturing production - 8.30am GMT
EUR industrial production - 9am GMT
US retail sales - 12.30pm GMT
US jobless claims -12.30pm GMT

Happy Trading!
FxTaurian

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