Hi Everyone,

Last day of the week and the last day of the month. It could be a volatile Friday morning in the U.S. session with the usual stock holding positioning and month end flows. Today is a day to be careful not to get positioned incorrectly going into the weekend, plus next week is a FULL week of data, and, lots of potentially market moving data.

<span style="text-decoration: underline;"><strong>OVERVIEW:</strong></span>

There was a little bit of volatility last night in the Asian session as a plethora Japanese  data was released. The upshot of which was that it appears that the government are quite happy at the moment, which means, there will be no further easing in the near term.

Both the AUD/USD and NZD/USD rallied after the New York close yesterday and for the main held their gains through Asia and Europe. I took the opportunity near their highs to add to my short positions already held. The EUR/NZD and GBP/NZD are soooooo close to breaking out, should the NZD/USD fall today there could be some very big moves on the cards. (AUD/NZD as well).

There is a lot of data this morning in the U.S. session, the highlight for me in the CAD GDP. I cancelled a limit order (Long) this pair earlier as I do not want it to trigger around this major news event.

<span style="text-decoration: underline;"><strong>TRADES:</strong></span>

I am so annoyed with myself regarding the USD/SEK, EUR/SEK and USD/NOK. I traded these three pairs quite a bit recently, and set me entry levels recently to get long too far away from the market and obviously they did not trigger . I do not want to chase any of these trades but I am looking at charts for entries next week based upon pullbacks that may not be too far away from current prices. The potential moves higher are extreme in all three pairs so I am not worried about being too late to join in at the party!

Being a Friday, I am not looking to add trades today, but I will should the trade meet my criteria. I will tweet should that be the case.

<span style="text-decoration: underline;"><strong>TOMORROW'S BLOG:</strong></span>

This will be delayed until about 1900- 2100 EDT for publication. I have been invited on a jolly tomorrow to test drive the new Porche crossover. It is a bright and early start, which will mean that my Saturday morning routine on charts and blogs will be delayed.

Have a great trading day and a good weekend, ready for the massive data dump next week......

Scott

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