Market close.

The USD remains in control thanks to the 'later rate cut narrative' backed up by FED chair Powell's speech today. Also today, the BOC's Macklem and BOE's Bailey sounded fairly dovish in comparison. Tomorrow's CPI data from the UK will be very interesting and could create a GBP trade (long or short depending on the number).

Once again, there was a spike of JPY strength which didn't last long, this time, I don't think it was middie east related but 'intervention' concerns as USD JPY approaches 155.

The stand out opportunity of the day was a USD CAD long 'in the moment news trade' based on slightly softer than forecast CAD CPI data. Which I unfortunately missed due to not being at the charts at the time (missed opportunities are something you must learn to live with as a trader).

Moving forward, I'll be keeping an eye on the GBP CPI data for a potential opportunity. Plus I maintain my long USD V's JPY (on a pullback creating nice 1hr support) or CHF (on a breakout of 4hr resistance).

Alternatively, if the VIX continues to drop and 'risk sentiment' stabilises, then AUD or NZD could become longable again.

Feel free to ask any questions: johnelfedforexblog@gmail.com