Happy Monday Traders!
EXPECT THE UNEXPECTED. We're seeing a lot of headlines out of Japan over the past 24 hours in regards to the current strength of the yen. With the Japanese preliminary GDP q/q coming in much worse than expected, .1% vs. .6%, and with the Nikkei opening down 1.2% this morning, we're looking for further risk aversion and for a continued move in favor of the dollar and the yen. Japanese former MoF official Sakakibara, also speaking over the past 24 hours, said that the USD/JPY may fall to record lows below 79.75 due to the weak US economy and also adds that the recent strength in the yen is due to a weaker dollar. We expect volatility to continue playing a major role in the markets and every trade should be carefully scrutinized.
Don't forget, we will be hosting Live! Trading sessions this week. Premium members may access the direct link in the Members Downloads section. The room will be open 15 minutes prior to trading.