Feb 28th, 2018: Dollar On High After Powell Introduction
February 28, 2018 8:11 amVideo
Latest News
- Will the euro manage to save itself? April 17, 2024
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- 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
Morning Report: 07.00 London
This morning, the US dollar is backing off after heft gains made yesterday on the back of Fed Chair Powell’s testimony. The speech appeared to cement previous analysis that rate hikes were on the cards.
Dollar pairs are making small gains this morning, with the NZD/USD and AUD/USD making good some of yesterday’s losses. By contrast, the GBP/USD is struggling to recover, while the EUR/USD makes small losses.
The biggest moves yesterday were seen on the USD/CAD which rose sharply with reversing oil prices and a strong dollar.
Yen pairs are uniformly lower this morning, as dollar interest subsides and yen interest increases. The EUR/JPY is notable for extending its recent poor run.
Meanwhile, gold hit a two year low overnight in the face of the resurgent dollar.
Coming up today
Coming up today, we have European CPI flash estimate at 10.00.
At 13.30, we get Canadian RMPI.
Also at 13.30, we have US preliminary GDP.
Chicago PMI is at 14.45.
Pending home sales are at 15.00.
US Crude oil inventories are at 15.30.
Trade Idea
The yen pairs are under near constant attack as market seek out safe havens and money flows from dollar pairs into the yen.
The euro continues to look vulnerable, with lower levels on the cards.
A good way to play this is a LOWER trade predicting that the EUR/ JPY will close below 131.00 in 14 days for a potential return of 107%.
Related Posts: