Reactions to ECB's Comments

European Central Bank's Trichet acknowledged weakness in the Euro-zone economic activity after deciding to keep the benchmark rate unchanged. As the chart shows, there was no sign of consolidation even at the daily support and the Euro extended its decline against dollar below that level.

It was when Pending Home Sales unexpectedly rose 5.3 percent in June which overshadowed a worse-than-expected rise in jobless claims.

Update: German Exports

Germany's trade surplus rose to 19.7B in Jun from 14.3B in previous month. Imports declined 0.1 percent while exports climbed 4.2 percent, which is "the most in almost two years" and better than 1.8 that market was expected. Euro appreciated in response waiting for ECB Rate Decision.

66 pip loss, the price of impatience

US pending home sales was well above expectations, I simply underestimate that possibility and its consequences on the Canadian dollar, so I pay the price.

AUDCAD closed in 66 pip loss.

The most frustrating aspect is that I was in 35 pip profit before the report but I understand it after 6 hours.

I am just happy because the size of the position was at the minimum level.