Commitments of Traders (COT) - 05 May 08

The COT for 05 May 08 is out, click on the following links for the currency that you are interested in: COT 05/05 - AUD (Bearish)
COT 05/05 - CAD (Neutral)
COT 05/05 - CHF (Neutral)
COT 05/05 - EUR (Bearish)
COT 05/05 - GBP (Bullish)
COT 05/05 - JPY (Bullish)
COT 05/05 - NZD (Bullish)

I'm still short on AUDUSD and EURUSD. The better than expected NFP and unemployment rates last Friday caused a extremely short-lived rally for the dollar, pushing AUDUSD and EURUSD down to my delight. However, USD pared its gains on Monday, even on bettter than expected ISM Non-Manufacturing Composite Index. The USD weakness is cost me some of my profits last week, unfortunately.

AUD will have a series of news coming out later today, namely: Trade Balance, Monetary Policy Statements and Cash Rate. This will probably impact the movement of AUD and I'm really hoping for AUDUSD to continue its bearishness especially since it is now testing its 0.9740 high.

Benanke will be speaking later as well, and any further hints of pausing the rate cuts could cause the Dollar to rise further.

Good luck for your trading!