The chance of a rate cut currently at 68.7%, which is well done from a figure of 90% last week. The CPI data will be important on Thursday for the US and any upticks in inflation will reduce this rate cut probability further. A miss in CPI and the Fed will be seen as more likely to move to cut rates. Also, we have Fed’s speakers in the mix too. So, we are back to watching data and Fed speakers to get a handle on the next direction of the USD.
What is the real difference between gambling and speculation (if you take drinking out of the equation)? Is it having a theory about the odds being better than even and avoiding ruin along the way?
One possible definition might be “a gambler chases fast fixed returns based on luck, while a speculator has time on his side to let the market decide how much his edge is worth.”
A speculator strives to be professional, honorable, intellectual, serious, analytical, calm, selective and focused.
Whereas the gambler is corrupt, distracted, moody, impulsive, excitable, desperate and superstitious.
“gamblers are willing losers who occasionally win”
That is, gamblers risk their capital on propositions where the odds are either: (more…)
