US Election Day

SG Tues 021106 1600H
While i was reading in a forex forum, i saw this "Great minds discuss ideas, mediocre minds discuss events, small minds discuss people", then i saw my blog.... argh... My calibre is only at a mediocre range. This really prompt me for an PERT (Project Evaluation Review Technique) style of constant evaluation.

Ok, back to business.

Last Friday, 031106 fundamental report
USD Nonfarm Employment Change 92K 130K 51K
USD Unemployment Rate 4.4% 4.6% 4.6%
USD ISM Non-Manufacturing Index 57.1 55.0 52.9
USD ISM Non-Manufacturing Prices 51.9 54.0 56.7

It was a spectacular event indeed on that NFP evening. Within 1 min, it moved up 20 pips, then there were some error, it quickly adjust to the error. At the end of the day, it was a USD positive. It was nothing much to talk about NFP as this is the day where Technical Analysis is not workable, within the first 5 min after the news are out. Investor stress, tension, and emotion is everywhere. It was fun just to watch all this happening, better than SGX stock, due to the high volatility.

Normally, I don't trade after NFP on the following trade day, Monday. It is because normally the range is very narrow, and directionless.

Today's fundamental:
10:00 GMT European Monetary Union !! Retail Sales (MoM)
11:00 GMT Germany ! Industrial Production (MoM)
11:00 GMT United Kingdom !! BRC Retail Sales Monitor - All (YoY)

Guess what, today's fundamental is nothing. What every investor is waiting are the US election report. Whether greenback will strengthen or weaken, all depends on who is winning, Democrats vs Republicans. I would expect that if a strong win of one party, USD might strengthen. If a 50%-50% vote, it will be very interesting as the market investor would stay sideline waiting for the reaction of hedge fund manager or some banking institution to make their first move. If you want more instant update, stay tune to Bloomberg / Marketwatch or rss feed of US news station.

*Do note that Watanabe or those RBA Melbourne Cup will not be cover, maybe later in the month when all US is out of the picture.