Dec 14th 2018: Dollar Gains as Optimism Fades
December 14, 2018 8:11 amVideo
Latest News
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
- EUR/USD: trading tips for beginners for European session on April 16 April 16, 2024
- What’s next for markets amid Israel-Iran tensions? – Special Report April 16, 2024
- Technical Analysis – GBPUSD pulls back into the negative zone April 16, 2024
- Geopolitical developments and stronger US data push volatility to new highs across the board – Volatility Watch April 16, 2024
- Technical Analysis – AUDUSD breaks the lower bound of a sideways range April 16, 2024
- Video market update for April 16, 2024 April 16, 2024
- Hot forecast for EUR/USD on April 16, 2024 April 16, 2024
- Technical Analysis – EURUSD dives further near 1.0600 April 16, 2024
- XM 2024 Ramadan Promotion Winners April 16, 2024
- EUR/USD and GBP/USD: Technical analysis on April 16 April 16, 2024
- Key events on April 16: fundamental analysis for beginners April 16, 2024
- Overview of the GBP/USD pair. April 16th. The pound may rebound, but the flat is over, and there are no reasons for growth April 16, 2024
- Trading plan for GBP/USD on April 16. Simple tips for beginners April 16, 2024
- Trading plan for EUR/USD on April 16. Simple tips for beginners April 16, 2024
Morning Report: 07.00 London
The dollar index is back in demand as global confidence fades and traders seek out the safety net of the US dollar.
The dollar’s strength is being helped by the weakness in its main counterparty the euro. The EUR/USD dropped for the second straight day as the ECB issued a cautious briefing on the state of the economy. The EUR/GBP is back on the rise this morning though as the pound remains pressured.
The GBP/USD is slipping back this morning on reports that Theresa May would not receive any amendments to her Brexit plan. It remains to be seen if May managed to secure ‘clarifications’ on issues such as the Irish Backstop.
The USD/CAD is back on the rise and eyeing a return to the highs above 1.3400.
The USD/CHF is also making gains though remains between the 1.0000 and 0.9900 range following yesterdays neutral SNB meeting.
Yen pairs are mixed, with the USD/JPY making slight gains, while the likes of the AUD/JPY is suffering heavy falls. The GBP/JPY and EUR/JPY are erasing most or all of yesterday’s gains.
Coming up today
Today we have Flash Manufacturing PMI and Services PMI data from France at 08.15. We have corresponding German data at 08.30 and European data at 09.00.
US retail sales are at 13.30.
Trade Idea
While the focus has been on the pound’s woes, the euro still has its own worries as the ECB struck a cautious tone.
Further downside could be on the cards as dollar interest increases. A good way to play this is a LOWER trade predicting that the EUR/USD will close below 1.1300 in 14 days for a potential return of 167%.
Related Posts: