6pm was ZEW sentiment for the German area and the Euro area. This is an important data to ascertain how businesses and people are feeling about the economic situation in their homeland.
At 5:55pm, I placed my straddle trade with the following details: –
EURUSD – 1.0645 – 1.0665 – 1.0685 – Spot at 1.0665, and SLs at spot
As it turned out, German ZEW was stronger however, it was mitigated by a weaker Euro area ZEW.
The euro hardly moved, so I decided to withdraw the trade.
As the UK is also squarely looking at recovery and growth, data such as CPI, PPI and RPI becomes relevant on the radar screen. CPI, PPI and RPI was schedule at 5:30pm Asia time.
I didn’t observe that much noise in the media but since it is a relevant data, I decided to place my straddle trade at 5:24pm with the following details: –
GBPUSD – 1.5147 – 1.5167 – 1.5187
Spot was at 1.5167 and SLs at spot, Stop if Bid at 1.5187 and Stop if Offered at 1.5147
As it turned out CPI moved up slightly and market didn’t seem interested so at 6:18pm, I decided to square the position at 1.5210 for a trading profit of 23bps.
I am born in the Year of the Tiger.
The Panthenon Investment Group 