Dec 18th 2018: Dollar Pressured as Trump Attacks Fed
December 18, 2018 9:11 am
Morning Report: 07.00 London
The dollar index remains weak as traders weigh up Trumps latest attack on the Fed ahead of a likely 0.25% rate hike this week. The dollar is down for the second day this week, helping the dollar pairs to lift higher.
The AUD/USD is recovering, with the 0.7170 level acting as support.
The GBP/USD is lifting for the second straight day, though Friday’s losses are still to be overcome. By contrast, the EUR/USD is on the back foot, with the EUR/GBP falling back from the 0.9000 level.
The USD/CAD is pulling back from the highs as the Canadian dollar recovers some ground from the recent bull run.
The USD/CHF is rising slightly though as traders shun the need for the Swissy’s safe haven.
Yen pairs are on the back foot, with the USD/JPY falling for the third day in a row to test support at 112.50.
The EUR/JPY is down for the third day in a row following on from Friday’s significant loss. The GBP/JPY is struggling and maintaining its recent bear run. Meanwhile, the AUD/JPY is poised for a test of support at 81.00.
Coming up today
At 09.00, we have German Ifo business climate.
US building permits and housing starts are at 13.30.
Trade Idea
The GBP/JPY remains weak and with current demand for the yen, there could be further downside from here.
PM May is facing a no confidence vote, while Brexit uncertainty plagues the British economy.
Morning Report: 07.00 London
The dollar index remains weak as traders weigh up Trumps latest attack on the Fed ahead of a likely 0.25% rate hike this week. The dollar is down for the second day this week, helping the dollar pairs to lift higher.
The AUD/USD is recovering, with the 0.7170 level acting as support.
The GBP/USD is lifting for the second straight day, though Friday’s losses are still to be overcome. By contrast, the EUR/USD is on the back foot, with the EUR/GBP falling back from the 0.9000 level.
The USD/CAD is pulling back from the highs as the Canadian dollar recovers some ground from the recent bull run.
The USD/CHF is rising slightly though as traders shun the need for the Swissy’s safe haven.
Yen pairs are on the back foot, with the USD/JPY falling for the third day in a row to test support at 112.50.
The EUR/JPY is down for the third day in a row following on from Friday’s significant loss. The GBP/JPY is struggling and maintaining its recent bear run. Meanwhile, the AUD/JPY is poised for a test of support at 81.00.
Coming up today
At 09.00, we have German Ifo business climate.
US building permits and housing starts are at 13.30.
Trade Idea
The GBP/JPY remains weak and with current demand for the yen, there could be further downside from here.
PM May is facing a no confidence vote, while Brexit uncertainty plagues the British economy.
A good way to play this is a LOWER trade predicting that the GBP/JPY will close below 141.50 in 21 days for a potential return of 135%.
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