Have gone short on a GBP pull back. Mostly banking on a week pound with comments today from the Telegraph saying that the UK is close to abandoning hopes of a post Brexit EU trade deal.
CAD CPI also printed a positive reading of 0.8% above the 0.4% expectation. Market mood also seems positive with the high beta’s performing well.
Shortly after opening the position the US inventories rose to 4.2 million when a reduction was forecasted which put a bit of weakness in the CAD but this seems to have gone and the pair is on the way down again. Need fresh lows printed to start looking at take profit areas.
See how it plays out tomorrow. If it starts to range then I may exit.
CAD CPI also printed a positive reading of 0.8% above the 0.4% expectation. Market mood also seems positive with the high beta’s performing well.
Shortly after opening the position the US inventories rose to 4.2 million when a reduction was forecasted which put a bit of weakness in the CAD but this seems to have gone and the pair is on the way down again. Need fresh lows printed to start looking at take profit areas.
See how it plays out tomorrow. If it starts to range then I may exit.