- Was a bit early in lifting most of the core short USD/CAD position in the low 1.02s. The CNY move pushed market to a low of 1.0133, so with the benefit of hindsight, I failed to maximize on the full potential of the trade by skewing towards Risk Off too soon.
- Nevertheless, it would appear that the original strategy is still correct. The CNY merely generated some short term noise to test one's convictions. Risk appetite being scaled back again (eg S&P500 back below 1105, giving look of right shoulder, Shanghai composite -1.3%).
- USD/CAD now at 1.0311. Limit orders placed to re-establish Risk Neutrality for core book from 1.0359 upwards, to around 1.0450 = downTL on daily chart.
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Canada Apr Retail Sales Act-2.0% vs Exp-0.4%.
Limit sell orders filled at 1.0360, 1.04 and working balance at 1.0450. Gradually pyramiding from Risk Off to Risk Neutral in the process.
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