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The dollar finished the week higher against the Canadian dollar, the Australian dollar and the New Zealand dollar. Commodities' fall weighed on the laggard currencies.
Sterling and the euro rose against the dollar. The first currency lifted by better than expected PMIs (construction, services and manufacturing) and the second one, with markets awaiting Macron’s election.
The dollar also rose against the yen and now support is seen at 112.
During the week, I’ve traded US dollar/CAD dollar. I lost my first trade, a 2 million short position. Then I increased the amount for 5 million in a new position with the same direction (short).
The loonie was still losing ground on Friday against the greenback. And ahead of NFP data, I thought that the exchange rate would likely test the 1.3840 level, reinforced by the 61.80% Fibo retracement. I closed the 5 million short position and opened a new long position, also with a 5 million amount.
NFP data came above expectations, though average hourly earnings disappointed with the year-over-year gauge at 2.5%. It was my option to close the long position.
Then, I started shorting the currency pair once again. I have now an opened 3 million short position and I’m expecting it to be closed at 1.3575 during the week ahead.
Notice that I had a pending order for dollar/yen at 113.05 – short position – and I’ve missed it for a notch.
The main event this weekend is French elections’ second round. Macron is widely expected to win.
During this Saturday, when I was writing my Fundamental Analysis forecasts, I was listening to a British radio station.
During commercial breaks and news updates, journalists interviewed French citizens about their voting direction in the following second round.
One of the interviewed French voters said something that reminded me what I’ve stated in my article (April article contest): that this election is remarked by citizens “voting against candidates” and “not voting for a candidate”.
I don’t have a record of those interviews, but I have in mind some words of it. A French voter said:
Bloomberg’s polling sets the odds at 62.5% for Macron and 37.5% for Le Pen.
The turnout will be decisive and also blank voting. Which might be a lot. A lot of voters do not revise themselves in none of the second round candidates.
An interesting characteristic in this election is: in the top-5 candidates, 4 were men. And all with their last name ending in “ON”, HamON, FilliON, MélenchON and MacrON. All of them supported MacrON, except MélenchON, which seemed more like MelenchOFF when distributing support for the second round.
Le Pen challenges in every front, as woman, whit her ideas and by her last name, Le PEN.
Time is over. All eyes on France. En Marche!
Sterling and the euro rose against the dollar. The first currency lifted by better than expected PMIs (construction, services and manufacturing) and the second one, with markets awaiting Macron’s election.
The dollar also rose against the yen and now support is seen at 112.
During the week, I’ve traded US dollar/CAD dollar. I lost my first trade, a 2 million short position. Then I increased the amount for 5 million in a new position with the same direction (short).
The loonie was still losing ground on Friday against the greenback. And ahead of NFP data, I thought that the exchange rate would likely test the 1.3840 level, reinforced by the 61.80% Fibo retracement. I closed the 5 million short position and opened a new long position, also with a 5 million amount.
NFP data came above expectations, though average hourly earnings disappointed with the year-over-year gauge at 2.5%. It was my option to close the long position.
Then, I started shorting the currency pair once again. I have now an opened 3 million short position and I’m expecting it to be closed at 1.3575 during the week ahead.
Notice that I had a pending order for dollar/yen at 113.05 – short position – and I’ve missed it for a notch.
The main event this weekend is French elections’ second round. Macron is widely expected to win.
During this Saturday, when I was writing my Fundamental Analysis forecasts, I was listening to a British radio station.
During commercial breaks and news updates, journalists interviewed French citizens about their voting direction in the following second round.
One of the interviewed French voters said something that reminded me what I’ve stated in my article (April article contest): that this election is remarked by citizens “voting against candidates” and “not voting for a candidate”.
I don’t have a record of those interviews, but I have in mind some words of it. A French voter said:
I want to vote against Le Pen’s racism, but I also want to vote against Macron’s capitalism and status quo.
Bloomberg’s polling sets the odds at 62.5% for Macron and 37.5% for Le Pen.
The turnout will be decisive and also blank voting. Which might be a lot. A lot of voters do not revise themselves in none of the second round candidates.
An interesting characteristic in this election is: in the top-5 candidates, 4 were men. And all with their last name ending in “ON”, HamON, FilliON, MélenchON and MacrON. All of them supported MacrON, except MélenchON, which seemed more like MelenchOFF when distributing support for the second round.
Le Pen challenges in every front, as woman, whit her ideas and by her last name, Le PEN.
Time is over. All eyes on France. En Marche!
