Weekly review.

There isn't an awful lot to say about the week starting Monday 26 August as the 'status quo' remains. The market is comfortable with falling inflation and US data, the 'risk on soft landing narrative' remains. Helped by decent NVIDIA earnings and future guidance, the S&P 500 and the Dow Jones in particular pushing all time highs.

The EUR had a 'soft' week, as inflation in the eurozone suggests more rate cuts will be coming soon. Which potentially opens the door to adding the EUR to the 'to short list' as part of a 'risk on' trade.

Even a spike in the price of oil early in the week (due to Libya production cuts) didn't spoil the positive mood, of course, the narrative can change at any moment. NFP is reported this coming Friday and is likely to be on the markets mind throughout the week. But for now, I'll continue to look for 'risk on' trades. Which currency to short (JPY, USD, CHF, EUR) will depend on the particular momentum of each currency at the time and support and resistance. (Similarly with which currency to long).

On a personal note, it was a week of two trades, an AUD JPY long which hit profit and a GBP USD long which stopped out. Never wanting to wish time away, I am a little glad the UK school holidays are over, whilst it's very good the tourism industry is booming, it's meant I've been working in the bakery a little more than planned. But the end of the holidays means I'll now have more time to work on a few ideas, such as the anticipation trade, the gathering of information and how much time is spent trading each day.

Monday's US holiday could mean a quiet start to the week.

Results:

Trade 1: AUD JPY +1.5

Trade 2: AUD USD -1

Total= + 0.5%

Total since start of blog= +26.6% (risking 1%per trade)