Managing my EUR/AUD and USD/CAD Positions during an Economic Data Release

The two positions I am carrying into November are setting up against what is admittedly an unusual week: With the storm still effecting millions, trading volume low, and NFP scheduled for an on-time release tomorrow (there was certainly some doubt about that earlier this week) – traders are rather optimistic pushing the Dow higher over 150 points. But there is anything but organization about the risk environment in this market. One look at the Dollar Index about 80.00 (flat to slightly positive) and the strong equities market today shows that the typical risk harmony in the market is simply not here.

Regardless, the aussie and loonie strength is part of my current position mindset and the comm-dolls are strong today despite a resilient greenback, weak-to-flat gold market, and crude oil gravitating about 87.00 ( up just 80 cents today despite the strength in U.S. equities).

You take profits though when the market lets you and that’s the case with the EUR/AUD and USD/CAD this morning. In this video the 10am EST economic data release helped accelerate an already bullish Dow. The dollar and euro are both pretty flat but you can see just how much comm doll strength there is so far today.

Enjoy the video, it runs just under 13 minutes.

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