Waiting for NVIDIA.

Not much has changed since yesterday, the underlying 'risk on narrative' remains. But it appears 'The market', particularly the S&P 500 doesn't want to commit before NVIDIA earnings, NVIDIA is arguably the most important company in the world at the moment. And today's earnings and future guidance could have a big effect.

Hopefully, it will pass by smoothly and 'risk on' trades will still be viable.

In other news, higher than forecast CPI gave the AUD a boost during the Asian session. And would have made a good 'pre-event anticipation trade' ​Although the core ​number does show disinflation and there wasn't any follow through buying. The RBA should remain the most hawkish central bank non the less. ​​

If it wasn't for NVIDIA earnings, I suspect I would be in an AUD or GBP long Vs the USD, with a stop loss behind 4hr support. But because the earnings could potentially change sentiment. My current decision is to await until after the earnings release before forming a conviction.

Depending how mentally invigorated I am at that time of night, it may mean assessing the situation during Thursday's European session.

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