Oh what a boring week! First, no signal on my system! Second, the Pacquiao-Mayweather fight is off! Bummer!
While I may be a woman, I am a pretty big sports fan. I was really looking forward to that Pacquiao-Mayweather fight! What’s the fuss about some blood test? You’re making me $40 MILLION! Imagine all the clothes you can buy with that!
This week was pretty interesting, as we saw the correlation amongst higher yielding currencies break off. Commodities went off on a wild ride, letting the comdolls post consecutive gains against the USD. Meanwhile, I took a look at the charts and saw that the European currencies like the EURUSD, USDCHF and GBPUSD pairs were mostly ranging. It seems more and more that market participants are focusing on the fundamental environment.
However, there seems to be a slight bias in selling dollars as the Fed meeting minutes report released just recently was pretty dovish. In fact, one member even suggested an expansion of the Fed’s quantitative easing program. Holy guacamole, that’s certainly the complete opposite of the speculation that the Fed could hike rates earlier than expected we saw last month!
Also, I just read Forex Gump’s writeup about tomorrow’s NFP report – I’m actually getting a little nervous! This report will be a major event that could either make or break the dollar this quarter. Maybe I should just wait on the sidelines first and see what the NFP brings?