It does feel like the calm before the storm. This coming week we have the eagerly awaited US CPi data. Will it’s release finally end the battle between the markets and the FED. At the moment there are still those believing that the FED will be cutting interest rates towards the end of 2023. Despite all the consistent FED members messages to the contrary.
In addition we will have the BOY replacement for Governor Kuroda announced. This will be a compromise announcement and I expect a lot of market volatility around JPY pairs, but in real terms it will be into Q2 before I believe we will see or hear any BOJ policy changes. For now, everything said for very obvious reasons has been a stern “NO CHANGE”.
RECESSION is a naughty word and if you say it too many times in the presence of Central bank leaders you will be punished by being made to sit on the naughty chair in the corner. Despite all the comments about “near miss” and “very shallow if at all”, we are heading there if Central Banks continue to raise rates into slowing growth. So much of the economic data that we review is backward looking and when combined with the present-day data it is sometimes like trying to mix water and oil. It is definitely easier to herd cats that it is trying to make sense of it all at times as those leading do NOT want RECESSION TALK.
I take a brief look at the RECESSION overview in this weekend’s DRIVE THRU below, amongst other matters Forex.
WEEKLY FX PREMIUM PERFORMANCE
FEBRUARY 2023 SO FAR:
In addition...
If you visit my website, you will find lots of additional supporting information about the way I trade. The link below should be helpful.
https://weeklyfxdrivethru.com/what-is-the-weekly-fx-premium/
Finally, always remember longevity in Forex trading can only be achieved through trading with a good MINDSET, RISK, TRADE and HEAD MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility. Trade with a TRADE PLAN, basically, plan your trades and Trade your Plan.
Be grateful for your wins and count them. Keep a POSITIVE MINDSET in play at all times, regardless of the market conditions.
Scott Pickering
The Pip Accumulator
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BLOG VERSION: #490 FREE NEWSLETTER
DATE: 12th February 2023
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