Weekly review

This last week saw a recovery for the USD, helped by a resilient economy and robust jobs market. Which has given rise to talk of potentially more rate hikes from the fed. Plus inflation rolling over in other regions (Britain in particular) took the focus away from US disinflation.

Disappointing data from China had a knock on effect for the Aussie and Kiwi, even though the AUD jobs market is still strong and the Australian central bank is still sounding reasonably hawkish.

The CAD was strong, boosted by rising oil prices and it's proximity to the US. But perhaps the biggest news of the week was Japan governor Ueda pushing back against talk of a change in policy, which weakend the JPY and moving forward, may re-ignite the JPY short carry trade.

On a personal level, I started the week a little too eager to trade, which is something I will monitor and talk about over the coming weeks as the psychology of over-trading is an ever present battle.

Results for the week:

Trade 1:   AUD JPY   -1

Trade 2:   AUD JPY    0

Trade 3:   USD GBP  -1

Trade 4:   AUD GBP +1.5

Trade 5:   USD JPY   +1.5

Total                           +1%

Total since start of blog on 19 June     = +4%