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Originally Posted by Nonpiker
I am not sure what Gilts were doing since I do not have that information readily available but take a look at the US 10 year around that time. Bond flows were clearly supporting the dollar. In addition taking a look at headline numbers with out consideration for how the market is positioned is only looking at one aspect of the bigger picture.
I do not remember the day you are referencing in particular but if you look out how cable traded over the prior month you may get a better feel for why you may have not gotten the reaction you expected. The p traded straight down the highs of March which was nearly 7 big figures. That was really the first bounce off the lows. If you bottom scooped or where looking for bounce to lighten up your longs that was the first bit of strength you had to sell into. In addition the same thing can be said for those looking to get short. I am sure the downward revision was of no help either.
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Thank you for your reply.
The reason I posted that pic is that there is this very "unfortunate" fact. Trading the news according to classical Fundamental Analysis just doesn't work half of the time... Of course those people who are big fans of Fundamental analysis will ALWAYS seem to find some excuse (by trying to dig up anything even on other markets rather than just FOREX). But it seems that unless you pay attention too COUNTLESS factors FA just doesn't seem to work much better than a coin toss....
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