A startling beginning

Woah...last night I stayed up overnight to not only finish my most concise economic review/report to date, but to also witness the opening of the International Forex market at 5 am. Man, it sure was a shocking day. First of all there was no movement of the chart until suddenly there was a huge jump in values of pairs to the detriment the USD. That basically means I lost alot of money. Well, fortunately most of that were virtual trades. I held the ,what I believe were oversold, positions of the USD in the view that the US market would cause a realignment of the USD after the holidays. But no way would I have expected that USD was heavily sold the moment the market was opened.

Frankly I suspect the People's Bank of China is behind this sell off activity. It was only a stupid me that did not follow all the sentiments and articles that pointed to this move. Definitely I didn't expect the move to have occured over the weekend, but I should have at least believed in the weakness of the USD.

In any case, given the current situation, by 7pm today, I see the USD has recovered partially from the furious attack in the morning. I will continue holding my pro-USD positions and observe if my beliefs are true.

One thing I cannot figure out, however, is the movement of the JPY. Apparently, the JPY has been weakening against most currencies today. This doesn't quite make sense given the much needed Yen to reverse the carry trades in the market.

I'm gonna start work tomorrow, the next two days being training at the Starhub Centre, and then to the Roadshow at SITEX. I found out this is a no-commission job, but nevertheless I would do my best to gain all the sales experience possible. Also, this might be my chance to get into other starhub roadshows, and another item to add to my sales experience column of my CV.

Oh, we also made progress in the refining of the economic reporting method by introducing a summary table so as to easily see the relation between news and the forex directions. The following is an illustration.