Wednesday 25 September

Nothing has happened to alter my view of 'risk on soft landing trades'. (Ideally with a stop loss behind 1hr support)

Slightly lower than forecast Australian CPI hasn't dented sentiment for the AUD, attempts from china to stimulate it's economy is helping the positive market mood, boosting the price of copper (which is AUD positive). Middle east concerns are making headlines. But (for the time being) it hasn't affected the market.

Soft PMI data from Europe this week keeps EUR sentiment 'tentative' as talk of a needed rate cut next month resurfaces, but whilst EUR USD is going up, it makes sense to focus on other short opportunities.

Yesterday's trade is still in play, coming short of it's profit target by 1pip before pulling back.

As we appear to be in some sort of semblance of normality (good news is good news) upcoming US GDP data will be interesting, plus chair Powell has a scheduled speech. Also, during Thursday's early European session, the SNB has a rate decision, where a cut is forecast. ING think the CHF will strengthen if the SNB cut, personally, I disagree. And my 'hope' is a rate cut with dovish narrative will keep the CHF high on the 'to short list'.

For now, with yesterday trade still in play, all I can do is wait. And enjoy (or not) tonight football.... If I can't wrestle to TV control from Michelle.

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