Employment in Canada unexpectedly jumped 93.2K during the month of June from 24.7K the previous month, exceeding economists forecast for a rise of 20.0K. At the same time, the unemployment rate fell to 7.9 percent from 8.1 percent in May.Immediately following the improved data, the USD/CAD slipped below the 200-day SMA and now looks poised to test the 100-day moving average / 23.6 percent Fibonacci retracement on the 5/25, 6/21 downswing.

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The Bank of England held rates at 0.50 percent in July for the sixteen consecutive month. At the same time, policy makers refrained from expanding their asset purchase program as quantitative easing remained unchanged at 200 billion pounds. Meanwhile, the European Central Bank kept their key overnight lending rate unchanged at 1.00 percent amid ballooning budget deficits in the bloc. In approximately 45 minutes, ECB President Jean Claude Trichet is scheduled to speak about the state of the 16 member...

I really got beat up again today. Fortunately I was trying to trade only one contract instead of two.

I just have too much other stuff going on. Other work to do that actually pays money. I think I will put the trading to the side for a while and focus on some other things.

As far as "The race" goes, it's becoming more and more evident that hitting a million is more than slightly unrealistic at this point. I never really intended to compete with that, but...

Fundamental Outlook

The European Central Bank is widely expected to keep their benchmark interest rate unchanged at 1.00 percent amid the brewing sovereign debt crisis in the bloc. Indeed, inflationary pressures have been subdued, while the unemployment rate in the 16 member euro area remains at a ten year high of ten percent, with Spain leading...

The Euro slipped to a low of 1.2553 during the overnight trade as the economic docket reinforced a weakened outlook for future growth, and the shift in market sentiment is likely to weigh on the single-currency going into the U.S. trade as investors scale back their appetite for risk.

Talking Points
• Japanese Yen: Benefits From Risk Aversion
• Pound: U.K. Shop Prices Grow At Slower Pace
• Euro: German Factory Orders Slump
• U.S. Dollar: Market...