Sorry for not posting anything so far this week... Workload have been quite extensive and a lot of things to attend outside work. Some good news, the "algo" has broken through its old all-time-high which feels really satisfactory given what have happend in markets lately - global equities are down and FX-markets are characterized by narrow range-trading. In addition, I have made some progress on the development front, more on this tomorrow... And some bad news, the discrenationary portfolio have had a rough ride lately and are now down to only USD 258... The distance between the discretionary and the algo is increasing.
Some short reflections on markets: Global macro continue to detoriate, PMI's declines more-than-expected in Europe and austerity really bites... US non-farm payrolls yesterday disappointed and growth seems quite distance at the moment - especially in Europe. But, things dont seem's to fall off a cliff, I guess this muddle-through will continue. Australia lowered rates with 0.5%, and markets still discount another 0.75% cuts for the coming year while markets price in atleast one hike in Canada. It looks like there can still be some decent moves in the FX-space on the back of monetary policies from the smaller central banks although the major cental banks are on hold. I am still slightly constructive on risky assets as I still thinks investors needs return, not only capital preservation, but that view have been expensive in the discretionary portfolio.
Latest update:
Positions:
Algo:
Short EURUSD (from 1,3222, stop 1,3418)
Short USDJPY
Long GBPJPY
Short AUDCAD
Long USDSEK (I have had a problem with my broker, they stopped to support USDSEK so I will change broker this week, very annoying...)
Disc:
Closed the last unit in the long AUDNZD at 1,2822
Stopped out my long CADJPY at 80,38
Remaining position:
Long EURUSD (stop at 1,3045)
Good luck dear readers!
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