Market Update

A fairly light news day with little more than CPI data from the UK coming out. It came in at 2.7% vs. 2.6% virtually indifferent, however the £ is up 50 points today, that being said it was most likely down to USD flows, being shown by the relative unchanged day in EURGBP.

Firstly, I would like to update a GBPNZD trade I posted last week to wit, I longed at 1.91 and is currently trading at 1.9290. A simple and easy trade with probable higher moves likely.

GBPNZD. Thomson Reuters.

I've closed this trade for a profit of +200 points or about +1%. The reaction from the trendline was strong and this trade took only 3 strong up days to complete.

In other markets, European Equities had a strong day with the DAX pushing much higher into 5 year highs hurting my shorts. Spanish Yields dropped from 5.53% to 5.32% by the close.

Elsewhere, early morning news from Australia weakened AUD all day long meaning EUR/AUD and GBP/AUD where well supported.

E-mini's have also had a great day up +0.92% with it breaking through one resistance level, and pushing the 1450 psych level. However beware the triple witching event on friday could add some significant and because of this I'm looking at the VIX for my next trade.

Longing VIX futures at 15.70 with any upward move in mind, it may be the case that I close during friday regardless but that is undecided as of now.

VIX Futures. Thomson Reuters