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Sainsburys full year earnings and Unilever’s first quarter trading update both say the same thing, UK consumers are in for higher prices. The war in Ukraine, supply chain issues and the effects of ongoing Covid all to blame. -
US Dollar (DXY) Daily Price and Analysis US Q1 GDP may stall the greenback’s advance. A 20-year high nears for the US dollar. The multi-month US dollar rally continues with the greenback printing a fresh high today ahead of the first look at US Q1 GDP at 12.30 GMT. The US dollar basket (DXY) has been boosted by renewed weakness in the Euro and the Japanese Yen, as investors move from lower-yielding to higher-yielding currencies, while safe-haven flows continue to benefit the greenback. The US growth release later in the session is expected to show a sharp slowdown from the robust Q4 figure of 6.9%. The markets are currently pricing in growth of just 1% for the first three months of this year, with the slowdown mainly due to a reduction in inventory accrual over the quarter. This release is unlikely to move the greenback, unless there is a large miss or beat, as the Fed believe that 2022 US growth will be robust enough to let them tighten monetary policy sharply without damaging the economy. The latest US Core PCE data – the Fed’s preferred inflation reading – is released on Friday and this may have more effect on the US dollar than today’s GDP data. For all market moving economic data and events, see the DailyFX Calendar. The ongoing US dollar rally has been aided by weakness across a range of G7 currencies including the Euro, the Japanese Yen, and the British Pound. The Euro continues to battle with lowly growth expectations, exacerbated by energy concerns, the British Pound is mired by weak economic data, while the Japanese Yen is in freefall as the BoJ continues with its ultra-loose monetary policy. The US dollar continues to press higher and looks set to break above 103.96, the March 2020 high. Above here the US dollar would be back at levels last seen nearly two decades ago. The March resistance will likely hold in the short-term, especially with month-end portfolio rebalancing at the end of the week, but US dollar strength is set to continue in the months ahead. USDOLLAR (DXY) WEEKLY PRICE CHART – APRIL 28, 2022 {{THE_FUNDAMENTALS_OF_BREAKOUT_TRADING}} What is your view on the US Dollar – bullish or bearish? Apr 28, 2022 | DailyFX Nick Cawley, Strategist
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While Tesla has nothing directly to do with Elon Musk buying Twitter - TSLA stock closed down 12% on news that Musk may have to sell stock and use other holdings to stand against the loan to finalise the purchase of the social media giant.
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Stef
Hi guys,
Some issues that I have picked up with PRT's automated trading module (ProOrder), and some suggestions:
* Probably the biggest issue is that the backtesting (Probacktest) and automated trading modules (ProOrder) do not behave the same. So, if you get great results with your backtest, don't get too excited, as the automation of this will most likely produce vastly different results. Some of the differences include:
-Pro order will trigger on the open of the next candle after the condition has been met but Pro back test will register the trigger of the trade on the close of the same candle the condition was met.
- Pro Back test cannot determine will your stop or limit will be triggered first if both would've been triggered in a specific candle. In this situation Pro back test will show the trade as if the Limit was triggered first. There is no setting yet to change which of the stop or limit will take priority when this happens but Pro real time is doing development to improve this feature.
- Pro back test will calculate the results using a step of 1 for the trailing stop and this value cannot be changed when testing. Pro Order will execute the step of the trailing stop by using the minimum allowed step distance of the particular market. To determine what the minimum step distance for a trailing stop on a market would be you can open a deal ticket on the IG platform and tick the trailing stop box and the step field will appear indicating the minimum value.
* ProOrder allows you to view the performance of your system while it is executing. This is great! Especially seeing as Probacktest behaves differently. But, there are some problems and shortcomings:
- You can add indicators to the price section of the chart, but not as a separate section underneath!? This is great for displaying PRT or custom indicators that you use as part of your strategy that can be plotted on the price section, but not so great for others that are normally displayed underneath (e.g. MACD, RSI, etc).
- Any indicators that you add will not be there the next time you open the window to display performace again! Common guys! What is the point of being able to add these indicators in the first place? This is especially problematic if you have your own indicators that need a lot of changes to its display properties (line styles, width, etc). It takes a huge amount of time to redo this every time for every system (if ProOrder and ProBacktest behaved the same, this would not have been that necessary, or that big an issue).
- Resizing! The view performance window allows you to resize the sections. But, again, if you reopen it, the sections are back to their original sizes. Why do the equity curve and positions sections have to take up so much space? I am more interested in the price section. This same issue applies to Probacktest also.
That's it for now!
Regards
Stef
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