Feb 7th 2019: Dollar Builds on Wednesday Surge
February 7, 2019 7:11 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 building on Wednesday’s surge, with further gains causing dollar pairs to plunge.
The AUD/USD sunk to just above 0.7100, with follow on selling taking the pair below that marker this morning. Lowe’s warnings of lower rates to come are continuing to have an impact. The AUD/JPY also sharply hit reverse gear, sitting just above 78.00.
The EUR/USD has seen similar, if less spectacular selling over the last 48 hours, capping a week of losses to trade around 1.1360. The GBP/USD is unchanged however this morning, holding up well despite renewed Brexit spats. The EUR/GBP is slipping back for the second straight day, holding below 0.8800.
The USD/CAD has been caught in the commodity rout, with the buyers in force yesterday and follow-on buying this morning. The USD/CHF has smashed through the parity line to trade at 1.0025 for the first time since early December.
The yen is balancing off against the dollar this morning, as it has done for the previous two days. The USD/JPY is unchanged, with the EUR/JPY is down for the third straight day, with the GBP/JPY slipping lower to test 142.00.
Coming up today
At 10.00, we have EU economic forecasts.
At 12.00, we have the MPC official rate statement, released alongside the Bank of England inflation report. BOE governor Carney speaks at 12.30.
FOMC member Clarida speaks at 14.30.
Trade Idea
The Aussie plunge could have further to run as the ramifications of the rate cut warning set in.
A good way to play this is a LOWER trade predicting that the AUD/USD closes below 0.7050 in 14 days for a potential return of 174%.
Related Posts: