US and UK data in focus.

The week began with the market pondering if the FED will cut rates at all this year. And USD strength continued during the first half of Monday. That strength waned by the time the US session got underway, in what could be deemed consolidation or profit taking. All eyes are now on Tuesday's PPI and Wednesdays CPI data, I'm currently looking for a resumption of USD strength before re-entering USD longs.

Sentiment for the UK took a hit last week, which puts this weeks data into sharp focus, starting with CPI on Wednesday. Any 'softening' could compound GBP negativity. It's also worth noting BOE Breeden's speech today, which could give clues of the near term interest rate direction.

For now, I'm content to sit on the sidelines and await the moment I can say: I would place this trade regardless of the outcome.

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