Monday, October 02, 2006

Ouch, I made a serious mistake today. I did not place a stop loss order on my last trade and eventually, the funds got liquidated. It was a really silly and a humbling experience I must admit... I guess the power of leverage works both ways, never did I expect it to work against me this time... Nevertheless, here's some news on the FX markets

Today's Events

JPY : Despite today's higher than expected Tanken Survey figures, the market continued to sell the JPY. Still, it only proves that the probability of the BoJ rising rates will be higher.

EUR : I went short on the EUR today (not very smart of me) even though the market was anticipating a rate hike by the ECB, even though the UK PMI was firmer, even though most indicators painted a positive picture of Eurozone going forward

Tomorrow

0930
h : AUD - Retail Sales released. I am expecting a better than expected retail figure given the drop in oil prices as well as other factors

1345h : CHF - Swiss Consumer Price Index. Less than expected. Would recommend going short on the CHF

1700h : EUR - Eurozone unemplyment rate. Expectation holds that it will be slightly lesser than expected, compared to the previous month.

God Speed in the markets tomorrow

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