The S&P 500 will continue to rebound after the post-FOMC rally but forex market risk trades like AUD/USD will underperform as the market adjusts to the zero-growth reality in the United States.
The FOMC decision set off a wild round of trading. In less than two hours, the S&P 500 traded in a 117 point [...]
Entered AUD/USD at 1.0950 on 26 July. Exited July 26 at 1.1042. Result: +92 pips
Entered with no stop. Greatest open loss: 15 pips Greatest open gain: 110 pips
Sometimes a trade that is bought minutes or hours ahead of data looks whimsical but when it’s good, it’s often because it was set-up long beforehand.
Positive sentiment emerged in US trading on hopes that Greece will pass an austerity budget and news that Europe is working on Plan B if the vote fails. The euro was the top performer while AUD and NZD lagged on the day. Japanese retail sales are the highlight of Asia-Pacific trading.
EUR fell in early [...]
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