Monday 16 September.

'Soft' Chinese data over the weekend didn't 'spook' the market. And the USD has been on the back foot as the market anticipates a 0.5bp rate cut on Wednesday. Possibly setting itself up for a disappointment, but we'll see. (A quick look at the fed rate monitor tool shows a 60% chance of a 0.5 cut).

The question is...is the USD weakness tradable into Wednesday's decision?

Having unexpectedly been busy today, I feel like I'm a little late to the party and my current decision is to wait until after US retail sales data. But if anyone has traded the USD short today, I would suggest it was a very valid trade.

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