Weekly review.

The week starting Monday 6 May was bereft of significant US data, which led to a relatively quiet week. The vix fell below 13 and with no signs of intervention the JPY was the laggard.

The only noteworthy US data came on Thursday and Friday, US jobless claims rose more than expected, which added to 'the goldilocks' scenario, although Friday's consumer confidence and inflation expectations gave sentiment a little knock. But during the week, an RBA 'neutral hold' (a hawkish hold was expected) and a mildly dovish hold from the BOE reminded the market that a 'developed markets soft landing' is still on the cards. And I currently expect to start the new week 'still' looking for short JPY or CHF opportunities. But Wednesday's US CPI and retail sales data could make it break that narrative.

On a personal note, it was a week of two trades. Both JPY shorts, and although I stand by the reasoning, one stopped out and one was closed before Friday's close for a small profit.

Results for week:

Trade 1: GBP JPY -1

Trade 2: NZD JPY +0.4

Total = -0.6%

Total since start of blog = +21.1% (risking 1% per trade)