So here we are, two-hours past the mixed US jobless claims data and the poor retail sales report. While “risk” trades have been trimmed in certain sectors, EUR/USD has found a perch above the 1.4285 level that capped the market prior to the data. AUD remains strong as well, up at 0.8435. Fundamentals be damned, momentum is in charge, so be careful not to try fade strength on what will likely be a thin August afternoon. If this market gets directional late, there is no telling where it will stop. I’d almost rather sell weakness than strength today.