Good morning. Today is the first day of the month.
Yesterday the re-balancing at the end of the month was relatively easy to understand. EURUSD, GBPUSD, and AUDUSD rose until London Fixing (15:00 GMT).
I usually trade in semi-swings, but only during the re-balancing at the end of the month, I trade in scalping. Yesterday I traded EURUSD and AUDUSD for around 20 times (all positions were Long) until London Fixing.
Now I have no positions.
Today, RBA policy interest rate and statement will be held. It’s just after yesterday’s re-balance movement, so I think we should be careful.
I usually upload H1 chart, but yesterday I traded as scalping, so I upload 5 minute chart. The blue vertical line means London Fixing (15:00 GMT).
Also, I upload M5 chart of AUDUSD. The blue line means London Fixing as well.
Yesterday’s currency strength
US market yesterday
Dow30: 28,430 (-223, -0.78%)
Nasdaq: 11,775 (+0.68%)
WTI future: 42.87↓
VIX index: 26.41↑
US 1- year bond yield: 0.716↓
Gold future: 1,973↑
Asian market today
Nikkei： around 23,100（-40）
Dow future：around 28,397（-33 Dow spot）
Economic indicators today
GMT 01:30 (AU) Current Account (2Q)
GMT 04:30 (AU) RBA policy
GMT 09:00 (EU) Euro zone CPI
GMT 14:00 (US) ISM index (Mfg)
9/2 (Wed) (US)ADP report
9/3 (Thu) (US) New Jobless Claim, ISM index (Non-Mfg)
9/4 (Fri) (US) Non-Farm Payroll