A fantastic start to the new year with equity markets in particular – showing their hands early.
Today looks fantastic as currency markets are essentially `giving us the day to catch up`….with little movement in USD itself – but OBVIOUS movement in JPY as risk sells off hard.
You guys know this…..this should look very straight forward at this point as the clear trade is still Long JPY vs Commods….as well short USD coming up here again soon.
These pairs are a given as risk falls off the cliff, while we get another full day ( or two more perhaps ) before USD rolls over and `those` pairs get added to the pile.
I wish it was more exciting at times too folks…however after a time…this just gets redundant.
We are going lower…..days lower…….weeks lower.