Japan’s Finance Minister Azumi said that the government will take decisive currency steps if needed and that speculative moves in the currency market are increasing. He and his policy makers can breath a small ‘sigh-of-relief’ after NFP, the market decided to sell the JPY outright! How long is this going to last? These specific market moves are providing better levels to own the currency. Markets have taken the Ministers comments in their stride. Intervention is a rising risk for USD/JPY shorts if the pair falls towards that psychological 75 benchmark.

Source: Advanced Currency Markets | G10 Advancers and Decliners vs USD GBP 0.08 JPY -0.05 EUR -0.11 CHF -0.12 Yet another day goes by without a resolution to the Greek bond swap talks; meaning we are still sat with a major hurdle preventing risk appetite from accumulating or EURUSD from making further upside progress. Yesterday, the EU’s Rehn said he expects an agreement between Greece and its private sector creditors by end of this week; a comment which is only likely to increase the potential for…
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The US PMI headline came in at 54.1, less than the expected 54.5 but in line with the global manufacturing growth. Along with a growth of 1.5% in Construction spending it send a neutral message for forex traders as the numbers were close to the expected figures with no surprises to make a case for a stronger or weaker USD.

I was on CNBC this afternoon with Maria Bartiromo talking about the outlook for the USD, EUR and my favorite trade

• We should do this more often – life is too short to not get out and explore on a regular basis. I'm realizing I've been stuck in a comfort zone doing the same old thing for too long.
• Despite my best intentions to put some focus on the blog and other personal projects I find the time cruising highly inefficient, but that’s not necessarily a bad thing. We are thoroughly enjoying our time on the cruise. I’m maybe getting 2 productive hours of work done in a day at sea.
   
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