Weekly Trading Plan: July 3rd to 7th

Forgive my disappearing face. I realized it was blocking the text do I removed it.

Information credit to daily FX and trading economics.

Disclaimer: This is an opinion piece. And not financial advice. Forex trading carries significant risk (which is maageable). And you know the rest.

Weekly Trading Plan: 26th to 30th June

Week 4: June 26th-30th

No major holidays

 

Monday

ECB Forum with the big shots

830pm USD durable goods orders

11pm ECB Youth forum? Whhha?

 

Tuesday

6pm Carney speaks

10pm USD consumer confidence

 

Wednesday

1am Yawn Yellen speaks

830pm USD Advance goods trades balance

930 CAD guy speaks at ECB panel

 

Thursday

750am lots of JPY numbers

8pm: EUR German CPI

830pm USD GDP, USD Core personal consumption expenditure, initial jobless claims

 

Friday

730am JPY CPI

9am CNY PMI

355pm EUR German employment numbers

5pm: EUR Eurozone CPI

830pm CAD GDP, USD personal spending, USD personal consumption expenditure core

 

My Thoughts:

Seems like a quiet week but quite a lot of important numbers that may influence monetary policy in July, such as the CPI, GDP, employment and personal consumption numbers. Other than that, besides reading the news which I don’t, I don’t see any major upsets.

At the moment I’ve closed all my positions and have no drawdown, which is good. So it’s starting from a clean slate, and I’m looking forward to next week to see what may come.

Have a good weekend!

Weekly Trading Plan June 19th-23rd

calendar-icon-upcoming-events-31

All info credit to DailyFx’s Economic calender and Trading Economics

Week 4 June 19-23

 

No major holidays

 

Monday

NZD milk prices

730am AUD somebody speaks in some panel somewher)e

 

Tuesday

9am CNY somebody speaks somewhere out there

930am AUD June rates minutes released

315pm USD someone speaks

330pm Carney speaks somewhere

445pm CHF another person speaks somewhere

 

Wednesday

236pm Kuroda speaks somewhere

 

Thursday

5am NZD rates (credit https://tradingeconomics.com/new-zealand/interest-rate)

 

  • The trade-weighted exchange rate has fallen by around 5 percent since February, partly in response to global developments and reduced interest rate differentials. This is encouraging and, if sustained, will help to rebalance the growth outlook towards the tradables sector. (But has risen quite strongly since then)
  • Developments since the February Monetary Policy Statement on balance are considered to be neutral for the stance of monetary policy.
  • Monetary policy will remain accommodative for a considerable period. Numerous uncertainties remain and policy may need to adjust accordingly.

 

 

Friday

2am MXN rates expected to raise again!

 

  • Recently raised again to its highest
  • Noted inflation about 6%

 

 

830am CAD CPI

My thoughts

That’s alot of people talking over the next week with only 2 interest rate announcements scheduled: NZD and MXN. Now NZD is interesting.  Ever since its previous statement, the NZD has rallied pretty strongly, which is exactly what the central bank doesn’t like. So where will the so called “smart money” be this week? Shorting the NZD? I don’t know. All I know is, I prefer not to short the NZD as it is expensive to pay the interest.

The great Mexican Peso, which I hardly trade, but is super to go long because of its now expected 7% interest rate. Well, I consider it a risky currency, although some traders I know absolutely love trading it short term. For me, the spreads are bad, and it’s expensive to buy, so even with a 7% interest, I don’t find it value for money. We shall see. Check out my post on how I trade like an “intelligent investor” Ala Warren Buffett to understand what I mean.

Other than that I don’t see anything interesting than people opening their mouths. Now analysts list these as high importance because they are looking for hints to predict stuff. But as a Smart Casual Trader, I know you cannot predict anything. So to me, I don’t really bother. Besides, by the time what they say is published, someone else would have already had an edge against you by having either inside information first, or having it heard first (remember, analysts are paid to listen and analyze such stuff and come to some kind of prediction or analysis to send to their bosses).

What edge do you have against them if you also depend on the same information. No, your edge is that you are not distracted, nor biased, by what you hear, but what you see in the market price action.

Happy trading!