Weekly review.

All in all, the week starting Monday 8 July was another week where it appears a 'soft landing' is still on the cards. Backed up by US CPI, which came in softer than expected. Shelter is still too high, but there is an expectation it will fall to pre pandemic levels by the middle of 2025.

In other news, the RBNZ surprised with a 'dovish hold', which considerably weakened the NZD. At least one rate cut is now being priced on for this year. But it's difficult to have confidence in NZD short trades whilst the market is 'risk on'.

The GBP maintained its strength, backed up by positive GDP and hawkish central bank speak. And the pound remains on my potential to long list, along with the AUD.

The JPY had a up and down week, it currently appears data is suggesting another hike from the BOJ is unlikely. And the yen weakened during the early part of the week. But (apparently) well timed intervention post US CPI release ensured the JPY ended the week strongly. And it'll be a case of studying the USD JPY chart before deciding which currency is the better short option.

On a personal note, it was another week of two trades. A pre CPI anticipation trade on Thursday. And a standard 'risk on' trade on Friday. Both trades hit profit....I can't remember the last time I placed more than two trades in one week, which means the are periods of two sometimes three days in a row where there is no trade. Which, for new traders, or traders who historically place a high number of trades, two days without a trade can feel like an eternity. But if you keep gathering information and keep making decisions you would stand by tomorrow, the trades will come.

I'll start the new week continuing to look for 'risk on' opportunities, backed up by 'interest rate differential'. Although, the shocking weekend news regarding the assassination attempt could see the week start with a negative tone. The news is also a prime example of why it's a good idea to close trades on a Friday to avoid weekend risk.

Results for the week:

Trade 1: AUD USD +1.5

Trade 2: AUD USD +1

Total= +2.5%

Total since start of blog= +27.7% (risking 1% per trade).