-
FX Breakout Monitor: Waiting for next week to bite
Recent developments in FX have largely fizzled today, including a bounce in the commodity currencies – led by CAD after a blowout jobs report today that stopped out our long USDCAD signal (fortunately at a raised stop from the original level). This happened despite fresh Trump tweets indicating a continuation of the stand-off with China that have driven further souring of risk sentiment, if in fits and starts. The trading environment looks one of the most hopeless I can recall as nearly every directional feint leads to nowhere. Let’s see how today and this week close and whether this leads to better conditions ... (full story)