Feb 20th, 2018: Dollar Extends Rebound from 3-Year Low
February 20, 2018 9:11 am
Morning Report: 07.00 London
This morning, the US dollar has continued to rebound, with the US dollar index rallying for the third straight session. The bulk of this move started on Friday, but dollar pairs are still struggling in the face of it.
The EUR/USD is firmly lower, as is the GBP/USD. The AUD/USD is performing well by contrast, up around 0.2%, while the NZD/USD is unchanged. This comes after the release of the RBA monetary policy meeting minutes in the early hours of this morning.
The USD/CHF is trading higher along with the USD/CAD in a mirror move of the other dollar pairs.
The yen pairs are mixed, with the USD/JPY higher thanks to the lower yen and stronger dollar. The AUD/JPY is trading higher as the top performing pair, but the EUR/JPY and GBP/JPY are lagging.
Gold is slipping off the highs in the face of a resurgent dollar.
Coming up today
Today we have German ZEW economic sentiment at 10.00.
Trade Idea
The AUD/USD has performed well in the short and medium term and there could be more upside from here if the dollar recovery falters.
Morning Report: 07.00 London
This morning, the US dollar has continued to rebound, with the US dollar index rallying for the third straight session. The bulk of this move started on Friday, but dollar pairs are still struggling in the face of it.
The EUR/USD is firmly lower, as is the GBP/USD. The AUD/USD is performing well by contrast, up around 0.2%, while the NZD/USD is unchanged. This comes after the release of the RBA monetary policy meeting minutes in the early hours of this morning.
The USD/CHF is trading higher along with the USD/CAD in a mirror move of the other dollar pairs.
The yen pairs are mixed, with the USD/JPY higher thanks to the lower yen and stronger dollar. The AUD/JPY is trading higher as the top performing pair, but the EUR/JPY and GBP/JPY are lagging.
Gold is slipping off the highs in the face of a resurgent dollar.
Coming up today
Today we have German ZEW economic sentiment at 10.00.
Trade Idea
The AUD/USD has performed well in the short and medium term and there could be more upside from here if the dollar recovery falters.
A good way to play this is a HIGHER trade predicting that the AUD/USD will close above 85.50 in 14 days for a potential return of 157%.
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