While Europe Germany is experiencing an economic boom despite a strengthening Euro (how wrong was I on that one!) it seems that the U.S. economy continues to be mired in problems. Core CPI numbers were just released and settled below the Fed’s 2% mandate for the sixth month in a row. Not surprisingly the Dollar got pummeled in response (bad economy = dovish Fed) which on the other hand caused a welcome boost on several of our ongoing campaigns. Let’s review the futures followed by forex:
Today seems to be entry day across the board as I’ve got promising looking campaigns crawling out of the proverbial woodwork. And it’s about time as I can tell a bunch of you guys were getting antsy in recent weeks. Watching and learning may have its merits but we’re here to bank coin, so let’s get to it.
As if we hadn’t already suffered enough lately, today’s event roster includes this month’s FOMC minutes being delivered around 2:00pm Eastern (18:00 GMT) plus ECB board member Peter Praet delivering a speech shortly after. Which means markets across the board will most likely be stuck in nail-biting hibernation mode until then. To keep my rowdy rabble entertained I’ll do a quick and dirty momo update as I’m seeing some interesting developments.
Our E-Mini campaign finally met its maker, effectively stopping us out at about 2.75R with an MFE of 3.25R. So absolutely no complaints here as we had great run, and just like Usain Bolt we did it in style – just a little bit slower. And quite frankly I’m not too broken up about that little stop run yesterday as I’m starting to see a few alerts blinking down here in the lair.