Market Sentiment 14th of August – Forex Trading Tips

There is no trade call for the session as we don’t see any current high conviction trades. We will continue to monitor events throughout the session.

Current Market Sentiment:

Yesterday in the NY session US retail sales printed close to expectations with no reaction was seen in the USD. However several banks have raised their US GDP trackers on the back of decent retail sales. September liftoff is still a possibility but the market has been behaving cautiously due the potential reactions the Fed may have to the recent PBOC actions.

During Asia, New Zealand retail sales growth eased in Q2, up just 0.1% after posting large gains in recent quarters. The print fell well below analysts expectations and has continued to pressure the NZD for the session.

The PBOC broke it’s 3 day trend of devaluing the yuan today when the central bank marked the yuan stronger. However, yesterday the PBOC impact on the market was much less than the previous two days, now perhaps, it will fade even further into the background after dominating the headlines for the majority of the week.

Coming up for London we have the French, German, and Italian GDP prints, followed by the Eurozone Flash GDP and Final CPI. Watch my weekly Forex news event’s overview here in order to learn more about interpreting these releases.

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Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"][/social] [social type="twitter"][/social] [social type="google-plus"][/social] [social type="youtube"][/social]

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