Dec 11th, 2017: Dollar Dips After Solid Week
December 11, 2017 9:11 amVideo
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Morning Report: 07.00 London
Expectations are high for a US rate hike this week, but this was largely priced in last week. So far we’re seeing a slight pull-back this week, giving dollar pairs a general boost.
The New Zealand dollar is the power currency, rallying on the confirmation Adrian Orr will be the new RBNZ governor. Seen as a seasoned campaigner, the Kiwi is rallying on expectations of stability and potentially further rate hikes. The NZD/USD is up over 1.00%
The Australian dollar is on the rise as well, rallying on a general increase in risk appetite. The AUD/USD is up 0.33%.
The USD/JPY is slipping back as money flows from the US dollar into the yen. Most yen pairs with the exception of the AUD/JPY are off this morning.
The EUR/GBP is rallying again this morning after a recovery rally on Friday. Brexit negotiations are progressing, but nothing is ever straightforward in European politics.
Coming up today
It’s a light day for economic date, with US JOLTS job openings, the main item of note.
Trade Idea
The AUD/USD is performing better this morning, but the longer term trend remains negative.
A good way to play this is a LOWER trade predicting that the AUD/USD will close below 0.7500 in 18 days for a potential return of 122%.
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