Good morning all from a cold and crisp Dartmoor. Unfortunately our AUDUSD retraced to break even on the second half (although only by 1 pip at cmc!). Cancel second limit. Our Cable trade is still live, having hit 1st target with our stop at entry on the 2nd half. The 2nd target is at 2.0432.

I noticed again yesterday something that I have been aware of for a while. Usually on news trades the price action before the release is in the same direction as the price action AFTER the news release. Not always, but most of the time. So yesterday the price action was bullish for Cable before the Fed announcement. Even though, if anything, the announcement was dollar bullish, Cable stumbled and then raced up as it had been doing prior to the news. This says to me that the news releases generally do not affect how the currency pair is moving anyway. The banks and big players move the currencies as they see fit anyway and the news releases don't usually affect anything (unless a major surprise happens).

That said, there are no news releases of import today, but tonight we have the Aussie employment change and also the Japanese interest rate statement.