This morning, the dollar index is on the back foot ahead of today’s Non Farm Payroll as traders book profits on yesterday’s gains.
The AUD/USD is leading the charge and is currently sitting on its highest levels for the week, above the 0.71200 level.
The EUR/USD failed at the 1.1250 level on Wednesday, with the pair falling to test the 1.1200 level yesterday. There are small gains this morning, but there is still some way to recover Thursday’s losses. The GBP/USD has followed a similar pattern, though yesterday’s losses were sharper and this morning’s recovery is stronger. The EUR/GBP is on the back foot and remains in the messy range that started back in March.
The USD/CAD is on the back foot, with the Loonie set for a test of new support at 1.3350. The USD/CHF is unchanged and holding just shy of the 1.0000 level after a strong push yesterday.
The USD/JPY continues to gain despite the dollar weakness, with the pair now just a session away from testing the highs at 112.00. The AUD/JPY is following suit with its third gain in a row and the highs a realistic target today.
The EUR/JPY continues to recover from the late marge collapse, posting its fourth gain in five days for April. The GBP/JPY has been mixed, pulling back further yesterday, but the 146.00 held yesterday.
Coming up today
Today, we have US average hourly earnings, unemployment rate and Non Farm Payrolls at 12.30.
We have the corresponding Canadian figures at 12.30.
Trade Idea
The USD/JPY continues to make gains, fuelled by an increased appetite for risk and hopes for a China trade deal.
Morning Report: 07.00 London
This morning, the dollar index is on the back foot ahead of today’s Non Farm Payroll as traders book profits on yesterday’s gains.
The AUD/USD is leading the charge and is currently sitting on its highest levels for the week, above the 0.71200 level.
The EUR/USD failed at the 1.1250 level on Wednesday, with the pair falling to test the 1.1200 level yesterday. There are small gains this morning, but there is still some way to recover Thursday’s losses. The GBP/USD has followed a similar pattern, though yesterday’s losses were sharper and this morning’s recovery is stronger. The EUR/GBP is on the back foot and remains in the messy range that started back in March.
The USD/CAD is on the back foot, with the Loonie set for a test of new support at 1.3350. The USD/CHF is unchanged and holding just shy of the 1.0000 level after a strong push yesterday.
The USD/JPY continues to gain despite the dollar weakness, with the pair now just a session away from testing the highs at 112.00. The AUD/JPY is following suit with its third gain in a row and the highs a realistic target today.
The EUR/JPY continues to recover from the late marge collapse, posting its fourth gain in five days for April. The GBP/JPY has been mixed, pulling back further yesterday, but the 146.00 held yesterday.
Coming up today
Today, we have US average hourly earnings, unemployment rate and Non Farm Payrolls at 12.30.
We have the corresponding Canadian figures at 12.30.
Trade Idea
The USD/JPY continues to make gains, fuelled by an increased appetite for risk and hopes for a China trade deal.
Further highs could be on the cards and a good way to play this is a HIGHER trade predicting that the USD/JPY will close above 112.00 in 14 days for a potential return of 146%.
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