DislikedI expect the GDP and home sales numbers will provoke a reverse reaction again in the stock market. Bad news will drive the market up.
I would guess the market assumption is that the news will be bad. The question is will they position GJ prior to the news based on that assumption. I would think the market will drive it down prior to the news.
Anybody have any thoughts on british housing price news in 3 hours? I would think below expections on price increase would really drive GJ down, since it gives BOE room to cut rates. A result above expections may not drive GJ up nearly as much, since the market is not going to believe a rate increase is likely, regardless of the data.Ignored
I'll be trading GU for the UK housing pricing report.. I don't know what GJ will do. I am hoping it comes out 0% lol.. then yes, GJ will definitely go down because it will be pulled sharply by GU. If it comes out as expected, or slightly higher - I'll stay out.
Edit : Btw, September's almost over - historically, this is the month when the Yen is the strongest. Will we see GJ back to it's highs in October? Look at AUD/JPY.. damn pair has already reached 101 (105 was the peak in July before it dropped)