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Tag Archives: gbpusd

Knowing that GBPUSD always move earlier than the time of data announcement, I decided to put my straddle earlier at 4pm.

All central banks are looking at tightening monetary policy and therefore CPI is going to be closely looked at as an indication of inflation.

My straddle with the following details: –

Stop if Offered; 1.3080, Spot; 1.3115, Stop if Bid; 1.3145

As it turned out CPI came in weaker at 2.6% versus forecast of 2.9%.

My Stop if Offered was triggered.

It’s 4:37pm and I just squared my position at 1.3025 for a trading profit of 55bps.

Not bad, thank you GBPUSD, at least, I managed to make back for some of the losses on the EURUSD put option and USDJPY call option.

More trading opportunities this week when ECB is front and centre

 

GBPUSD doesn’t seem to be making any appreciable move upwards, so I decided to square off my Long GBPUSD at 1.2900 for a decent trading profit of 62bps.

I was looking for a trade today.

Decided to do a straddle on the GBPUSD with the following details: –

Stop if Offered; 1.2790, Spot 1.2818, Stop if Bid; 1.2838

As it turned out the Stop if Bid was triggered as Claimant count came in lower at 6K versus 10.5K expectation.  Unemployment also improved slightly from 4.6% to 4.5%.

Am still holding the spot position with SL at 1.2838.

Let’s see.

I didn’t feel comfortable about the GBPUSD so I decided to square the option at 1.2875 for a trading profit of 45bps.

I felt that the GBPUSD was too high and unsustainable.

On July 3rd, I decided to buy a GBPUSD put option for 1 month with the following details: –

Spot: 1.3020, Premium: 100bps, Breakeven: 1.2920, Expiry: 2 August

We will see.

After slumping for three months, market is expecting the retail sales to recover.

So at near 4:30pm, I put in my Stop if Bid trade with the following details: –

Spot: 1.2980

Stop if Bid: 1.3000

Squared at 1.3033

Trading profit: 33bps

Not bad lah!

The straddle that was executed was triggered on the offered side and it almost got triggered on the bid side as well, thankfully.

However, the CPI, RPI and PPI data was mixed including the trade balance and the GBPUSD reflected it with a lack of momentum on the downside.

I decided to take profit at 1.2875 for a trading profit of 33bps.

UK usually is sensitive to this data as it is largely a services and consumption economy.

I decided to place a straddle with the following details: –

Spot: 1.2938

Stop if Bid: 1.2968

Stop if Offered: 1.2908

Let’s see.

Given UK’s preoccupation with the Brexit and firms pulling out, I felt that the manufacturing numbers were probably going to be weak.

So decided to put in my GBPUSD straddle with the following details: –

Stop If Offered at 1.2440, Spoat at 1.2460, Stop if Bid at 1.2480

All the data came out weak, and it triggered by Stop if Offered leg, but for some reason the GBP seemed resilient, so I decided to square the position at 1.2400 for a trading profit of 40bps.

UK Services PMI will always be a much looked at data given the services economy that is the UK.

I decided to put in my GBPUSD straddle with the following detail: –

Stop if Offered at 1.2444, Spot at 1.2474, Stop if Bid at 1.2474

Though the PMI came out strong at 55 versus forecast of 53.5, the GBP just didn’t make much of a move, it did trigger my stop if bid leg.

I squared the position at 1.2492 for a small trading profit of 18bps.