April 2nd 2019: Dollar Gains Despite Poor Manufacturing Data
April 2, 2019 7:11 am
Morning Report: 07.00 London
This morning, the US dollar index is on the rise, despite below par ISM Manufacturing yesterday.
Dollar pairs are mixed, with the AUD/USD closing Monday’s opening gap lower and trading below 0.7100. This comes after the RBA opted to keep rates on hold at 1.50%. The EUR/USD is unchanged, after falling back to support at 1.1200 yesterday. Support is holding for now.
The GBP/USD is gaining in spite of volatility yesterday that say the pound close higher, but well below the highs after parliament opted to reject all Brexit options in an indicative vote. The pound is positive this morning, with the GBP/USD building on the wild gains yesterday. Support at 1.3000 is holding for now. The EUR/GBP is extending yesterday’s losses, but largely still remains within the same March range. The GBP/JPY is unchanged after making gains yesterday.
The USD/CAD is unchanged, with 1.3300 holding as support despite two days of previous losses. The USD/CHF is also nipping back after failing to break through the 1.0000 level in yesterday’s surge.
Yen pairs are mixed, with the USD/JPY slipping back after yesterday’s rally that took the pair up to 111.45. The EUR/JPY is unchanged after failing to break 125.00 yesterday. The AUD/JPY is erasing yesterday’s gains and looking to close the Monday opening gap.
Coming up today
Today, we have the Australian annual budget release at 08.30.
US core durable goods orders are at 12.30.
Trade Idea
The AUD/JPY is struggling to build on Monday’s momentum after gapping higher after the RBA failed to rally markets.
Morning Report: 07.00 London
This morning, the US dollar index is on the rise, despite below par ISM Manufacturing yesterday.
Dollar pairs are mixed, with the AUD/USD closing Monday’s opening gap lower and trading below 0.7100. This comes after the RBA opted to keep rates on hold at 1.50%. The EUR/USD is unchanged, after falling back to support at 1.1200 yesterday. Support is holding for now.
The GBP/USD is gaining in spite of volatility yesterday that say the pound close higher, but well below the highs after parliament opted to reject all Brexit options in an indicative vote. The pound is positive this morning, with the GBP/USD building on the wild gains yesterday. Support at 1.3000 is holding for now. The EUR/GBP is extending yesterday’s losses, but largely still remains within the same March range. The GBP/JPY is unchanged after making gains yesterday.
The USD/CAD is unchanged, with 1.3300 holding as support despite two days of previous losses. The USD/CHF is also nipping back after failing to break through the 1.0000 level in yesterday’s surge.
Yen pairs are mixed, with the USD/JPY slipping back after yesterday’s rally that took the pair up to 111.45. The EUR/JPY is unchanged after failing to break 125.00 yesterday. The AUD/JPY is erasing yesterday’s gains and looking to close the Monday opening gap.
Coming up today
Today, we have the Australian annual budget release at 08.30.
US core durable goods orders are at 12.30.
Trade Idea
The AUD/JPY is struggling to build on Monday’s momentum after gapping higher after the RBA failed to rally markets.
The gap is ripe for closure, with further selling possible. A good way to play this is a ONE TOUCH trade predicting that the AUD/JPY will touch 78.00 within 7 days for a potential return of 138%.
Related Posts: