FX News Trading Journal

Welcome to my FX News Trading Journal. I trade the news, and most of the time with EUR/USD.

Today we only have one piece of action:

Unemployment Claims

http://www.forexfactory.com/calendar.php

But I will also watch Crude Oil Inventories.

Let's see what happens...

 

Very mixed data. Jobless Claims fell with 94.000 but the total jobless rolls jumped to a 26-year high:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aSPZtRJBBP6M&refer=home

And very strange action: EUR/USD jumped 40 pips, while GBP/USD fell 40 pips.

Because of the mixed data I did not trade the news.

 

I'm looking at GBPUSD.... would you trade this as a retest of the prior triple bottom...taking a short above 1.4600?

 

I don't know. I only trade the news.

 

Second thoughts about Jobless Claims:

I should have traded the news with EUR/JPY - it went right up 120 pips after the news. Very nice action.

 

Tomorrow Friday we have two major news events: UK Halifax HPI and US ISM data:

http://www.forexfactory.com/calendar.php

Stay tuned.

 

The UK data involved no big surprises - so no trade. It's also difficult to make news trades in Cable because of the 10-15-20 pips spreads just after the news.

 

Nice move in EUR/USD after the ISM data.

PS. I can't understand the rally in stock indexes after such bad news, but who cares?

 

We will have a lot of important tradeable news this week - starting tomorrow:

http://www.forexfactory.com/calendar.php