Profit: $11.39 Total: $1,288.29
Retail numbers came rolling in and they were deliciously higher than expectation. Core retail was 0.7% vs 0.4% and Retail sales were 0.6% vs 0.1%! These data shows that consumers are spending money which means the economy may be improving. Dollar loved this data which gave the EUR/USD and GBP/USD a huge push below. These numbers were so great that the Fed rate hike percentages actually improved significantly. A chance of no hike went from 93% all the way below 60%! Although there are global uncertainties, one can argue that the U.S economy is on the road to recovery.
I actually missed the EUR/USD short opportunity but was able to scalp the GBP/JPY shorts. The GBP/JPY gave in a massive 500 pips from it’s high from yesterday. Although the BoE kept their rates unchanged, their dovish demeanor was not taken well. It looks like the pound may be back to it’s downward slope, possibly creating newer lows than post Brexit.