Chinese Renminbi

When looking for reversals, you’d best stay on your toes. They can happen anytime!

Forex price action was a mixed bag of beans, as Asian session players priced in China’s weak trade data and the dollar’s slight recovery across the board.

A slew of Western investors and traders who placed bets in the past two years that China’s yuan currency would drop because of a weaker Chinese economy, the threat of a debt crisis, and capital outflows, abandoned those positions in recent months.

Ho-hum. Forex price action was as tight as the U.S. Presidential elections, as market players trade cautiously ahead of the anticipated U.S. event.