Oh man today was a wild day, I haven’t seen such single pip movement with sheer force and power. Usually price will move little by little but today, pips were long and strong. We had multiple mixed news releases early in the morning which kinda added to the confusion. While Unemployment claims and Employment Cost Index came out positive, Core PCE Price Index and Personal Spending came out short. Initially the news drove the dollar north, however, throughout the day, it was rather whip-saw like. I blame the Fed’s indecisive statement yesterday along with the confusing news announcement for today’s radical moves.
Anyways, the overall global markets are very sensitive right now. The Dow closed almost -200 points today while it was identical for the Dax a day ago. The markets are far from normal and it’ll take some time for it to reach equilibrium. Trade safely.