Dollar Holds Highs Ahead of Fed

Morning Report: 09.00 London

• This morning, the US dollar continues to dominate currency flows ahead of this week’s Federal Reserve statements tomorrow and Non Farm Payrolls on Friday.                                                                                                             

                                                                                                                                                                                                                  
• The dollar strength is helping to push the NZD/USD even lower, as the Kiwi sell off continues.

• Elsewhere, gold and silver are countering the trend, with both precious metals up around 0.25%

                               
• The strong dollar is also meeting a weaker yen after Japanese economic data came in below expectations this morning.
           
                               

                               

Coming up today:

• Coming up today we have UK net lending to individuals at 09.30.This is followed by the latest S&P 500 HPI index at 14.00.
•  The main highlight for the day is US CB consumer confidence at 15.00.


Trade Idea:

• It’s hard to ignore the strength of the dollar trend at the moment, with the USD/JPY starting to rise.

A good way to play this is a HIGHER trade predicting that the USD/JPY will close above 102.00 in 7 days time. This could return 113% if successful.

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Summary: