August 17th, 2018: Dollar Slips on Risk Appetite Gains
August 17, 2018 7:11 am
Morning Report: 07.00 London
The dollar index is on the back foot as traders drop their desire for safe havens while China-US trade talks progress.
The AUD/USD is rising off the lows for the second day in a row. The EUR/USD is also increasing after bouncing off the 1.1300 level on Wednesday. The GBP/USD is following suit.
After making gains yesterday for the second day in a row, the EUR/GBP is slipping back after UK retail sales increased more than expected yesterday.
The USD/JPY and other yen pairs are on the back foot as money flows back into the US dollar.
Coming up today
Today, we have final European CPI at 10.00.
At 13.30, we have Canadian CPI data and foreign securities purchases.
US preliminary UoM consumer sentiment is at 15.00.
Trade Idea
Silver has struggled of late, following gold lower as money flows into the US dollar. There is a recovery of sorts this morning, but the long term trend remains negative.
Morning Report: 07.00 London
The dollar index is on the back foot as traders drop their desire for safe havens while China-US trade talks progress.
The AUD/USD is rising off the lows for the second day in a row. The EUR/USD is also increasing after bouncing off the 1.1300 level on Wednesday. The GBP/USD is following suit.
After making gains yesterday for the second day in a row, the EUR/GBP is slipping back after UK retail sales increased more than expected yesterday.
The USD/JPY and other yen pairs are on the back foot as money flows back into the US dollar.
Coming up today
Today, we have final European CPI at 10.00.
At 13.30, we have Canadian CPI data and foreign securities purchases.
US preliminary UoM consumer sentiment is at 15.00.
Trade Idea
Silver has struggled of late, following gold lower as money flows into the US dollar. There is a recovery of sorts this morning, but the long term trend remains negative.
A good way to play this is a LOWER trade predicting that silver will close below $14.50 in 14 days for a potential return of 117%.
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