Once again we find ourselves here on Thursday morning, awaiting the release of “the unemployment claims” data out of the U.S. I know the number will be dismal, there’s no question of that………only the question of how markets will interpret the news.
If history is any record, it really doesn’t seem to matter how many “more people” get in line to file unemployment claims each week as U.S equities continue on their grind.
I would “like to think” – this time will be different.
A disappointing number “should” propel USD upwards and U.S equities down but of course….that’s what “should” happen.
Overnight’s “risk off trade” gathered some traction with JPY moving higher, and a brisk sell off of AUD – as expected.
I am 100% out of USD related pairs as of yesterday / last night, and well in profit on the “insanity trade”.
We’ll let the dust settle here this morning….and continue forward with a “now USD long bias” starting to materialize across several currency pairs.