Elections in America are over and we have a new president. It will be truly interesting to see if he indeed puts an end to wars and what tax and economic policies are instituted. Obama is inheriting a real mess on many fronts, and I don’t really think he will be able to change many things around fast. Time will tell.
More central banks are cutting rates. Bank of England was really aggressive and slashed them by 1.5% to 3%. This is a large drop for normally rather conservative BoE.  At the same time European Central Bank lowered their rates to 3.25%, a half percentage point.  I suspect there will be still more cuts around the globe. Problem is, that influx of cheap money might put us right back where we started- another mountain of bad loans. And what then? Who knows.
I had to skip update yesterday. Some days there is just not enough time to do everything I want to. At times I feel that my plate is just too full…
The GBP-CHF trade I was talking about didn’t work out as planned.

Original trade at 1.8730 turned sour right away and I took 75 pips loss. I took another swing at it later and entered at 1.8455 and managed a 100 pips gain. Looks like GBP-CHF going through rather cyclical daily routine, so I decided to enter it long again here about an hour ago at 1.8375. I hope to see about 60-80 pips out of this.
For fundamental traders Friday will be busy. There are a lot of scheduled releases in US. Some of them are important, like non-farm payroll and unemployment. Trading USD during American session might be very interesting.

Mike K.