Блог JonSnow

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Jackson Hole Meeting

Annual meeting of central bankers at Jackson Hole is here. The US dollar is on the defensive this morning but I believe it is not for long. I expect dollar buying marker reaction to resume later during the American session, that's why I loaded up my account with long USD trades against euro, British pound, Canadian dollar and Australian dollar. Last night I also opened long USD/JPY but my stop loss was tight and that position was closed when the pair retraced back to 108.60 level.
In my opinion…
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Next Week Trading Plan

Just reviewing charts and making the initial plan for next week trading, I can't help to notice that both AUD/USD and NZD/USD charts look like there is no more buyers at these high levels. And both pairs have reasons to fall much further as Australian dollar had a dubious employment data and new Zealand dollar was sold off because of very weak retail sales.
Considering the FOMC Minutes release coming this week my general plan is to go long with US dollar again. Most major pairs are expected to …
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"Something Phenomenal" (Happened to my Account Balance)

"Something Phenomenal" - two words said by President Trump have busted my account balance by almost 100% as nearly all my trades were dollar long. I bet my subscriber who stuck with me are very pleased now, and the ones that left me have regrets.
Is this the continuation of Trump trade? In my view it's impossible to say. But I wouldn't be surprised to see dollar appreciating fast for a few more days until the markets realize that we have no details whatsoever about these "phenomenal tax cuts".
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It's not IF, it's WHEN - FED Vice Chairman Stanley Fischer

While Yellen's testimony in before Congers was certainly the biggest event last week, FED Vice Chairman Stanley Fischer stated in much simpler than Yellen words during his interview with CNBC that:
"We've gotten used to thinking of a zero interest rate as normal—it's far from normal,"
It's "about time" (to rise rates)
In regards to the term "patience" which replaced "considerable time" in FED forward guidance Fischer said: "it could happen, depending on the data, at any meeting."
Speaking at…
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Counter-Trend Against Dollar Stronger Than News?

So much positive economic news today for the US dollar but the greenback was not able to rally at all. Why? Is it the anticipation of a major pullback in dollar's appreciation trend? Is it that much stronger than the news?
We'll see what happens in the next few sessions, but for me it's warning sign that for now the dollar bulls have exhausted their strength.
What do you think?
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