Dollar Back On Top

Morning Report: 09.00 London

• This morning, the dollar index is back on top and dominating currency flows. This follows yesterday’s strong performance from the S&P 500, helped by better than expected new home sales.                                                                                           

                               
                                                                                                                                                                   
                               

• This morning, the dollar index is back on top and dominating currency flows. This follows yesterday’s strong performance from the S&P 500, helped by better than expected new home salesThe Australian and New Zealand dollars are being hit hardest, with the NZD/USD down 1.50 and the AUD/USD off by 0.95%.

                               

• Commodities are also struggling, with silver down 1.41% and gold off by 0.73%

• Elsewhere, the EUR/USD can do little in the face of this dollar strength as it continues its down trend.

                               

Coming up today:

• Coming up today we have UK CBI realised sales at 09.00.

• From 13.30, we switch to North America for US core durable goods and unemployment claims.

• Bank of England governor Carney speaks at 13.40.

Trade Idea:

• The dollar index strength is just impossible to ignore and so is the continued down trend for the EUR/USD.

A good way to play this is a LOWER trade predicting that the EUR/USD will close below 1.2700 in 7 days time for a potential return of 149%.

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Summary: