Weekly Review: Friday 25th January 2019

Mark NugentJan 2019, Weekly Review

Weekly Review: Friday 25th January 2019

A great week where events were more predictably “mechanistic” than usual. We started risk off with bad news from China (GDP) and then the IMF (reduction in global growth forecasts). This caused my S&P500 from the prior week to be taken out for a nice gain of around 3%.

The GBP was bolstered throughout the week by Brexit news that the market approved off. I took the rising GBP and paired it with the falling AUD (due to the China and IMF news) and went long on GBPAUD.

The risk tone improved slightly on Thursday and then moreso today, Friday, causing the AUD’s decline to reverse and taking out my GBPAUD for a gain of around 1.9%.

Meanwhile the EUR was down due to concerns about the German economy and the JPY was down because of a dovish Bank of Japan.

It all worked like clockwork! No drama. Almost 5% in the bag.

Have a great weekend and I’ll see you on Monday.

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