The dollar traded sharply higher versus majors other than the JPY as investors flee growth currencies and move into the safety of the dollar and the Japanese Yen. Overnight on very light trading volumes due to a bank holiday in Japan FX markets witnessed the first Flash Crash in more than 3 years as investors pile into the JPY following an earnings warning from tech giant Apple. The selloff in the FX markets sent the JPY as high as 5% versus majors and triggered stop losses on thin trading markets. US Futures and Asian markets turned red following the Apple news and looks like the positive start of 2019 will turn around, at least for the short term. Oil traded higher on OPEC proposed production cuts and the move higher in US equity markets however it looks like a short term move at this point. Oil inventories numbers tomorrow will signal investors as to the near term chances of a price rebound, if at all.

US ISM Manufacturing at 4 pm is the important news on the agenda Thursday.

 

Market GBPUSD USDJPY EURJPY EURUSD GOLD OIL
2.1.19 -1.24% -0.34%    -1.42% -1.1% 0.08% 2.4%
USDMXN USDCHF AUDUSD AUDJPY USDCAD SILVER NAT GAS
-0.44% 1% -0.81% -1.15% -0.41% 0.1% 1.36%
Dollar Index DAX FTSE100 CAC40 EURSXX50 NIKKEI CSI300
0.77% 0.2%  0.09% -0.87% -0.27% –% -0.16%
1 YEAR -18.1% -12.4% -12.04% -14.72% -12.08% -27.89%

 

 

Swing trades follow up  

Trade Entry price Position Open profit Date triggered Stop loss Remarks today
USDJPY 107.15 0.7 240 3/1 106.8 New   position
GBPUSD 2756 0.7 -250 2/1 2720 Stopped out
NASDAQ 6195 8 230 2/1 6150 New position
NASDAQ 6348 8 -660 28/12 6200 Stopped out
         
OPEN PROFIT     $470

 

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