Daily Alert – Wednesday 12th February 2020: Equities, JPY and EUR offering good trades
Yesterday was moderately risk-on. Equities are rising although the JPY continues to fall as parts of the market remain risk-off. Early today, the RBNZ adopted a neutral stance at their rate meeting, which is relatively bullish as previous statements had alluded to the possibility of rate cuts. The NZD rises.
The commodity currencies are all rising on the risk-on sentiment and the EUR, as predicted in Monday’s Trading Plan, is falling. The JPY is also falling, as mentioned. So, trading the falling JPY or EUR against the rising CAD, NZD or AUD is working out quite nicely.
My Japan225 long gets taken out at breakeven early this morning on a momentary down spike before the price rises. Annoying, but not annoying enough to change my behaviour. This is key.
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