US stock indexes dropped as much as 2 percent when earning results looks not encouraging and a report from IMF made the picture of US housing market cloudy.
So I found it appropriate to sell dollar (against yen at 107.52) to take a position ahead of US Consumer Confidence and S&P/CaseShiller Composite, both scheduled for tomorrow.
I will increase the size in any opportunity; it is likely that tonight's data from Japan, including Household Spending and Retail Trade, make a better technical condition for selling dollar (or even other pairs such as GBPJPY).
So I found it appropriate to sell dollar (against yen at 107.52) to take a position ahead of US Consumer Confidence and S&P/CaseShiller Composite, both scheduled for tomorrow.
I will increase the size in any opportunity; it is likely that tonight's data from Japan, including Household Spending and Retail Trade, make a better technical condition for selling dollar (or even other pairs such as GBPJPY).
Posts
I closed the position with just 8 pip profit. Technical data was very weak, and there were also fundamental issues: Japan Unemployment jumped to 4.1 when 4.0 was expected and Household Spending and Retail Trade came disappointing.
ReplyDeleteI also think that weakness in US Housing and Consumer Confidence might be interpreted as a possibility for keeping interest rate low which could affect stock – and carry trading – positively.
I think the best bet would be buying gold and I my do it if technical data improve.