June 12th, 2018: Dollar Stays High as Korea Talks Start
June 12, 2018 7:11 am
Morning Report: 07.00 London
The US dollar remains at the highs as Trump’s Korea talks commence. The dollar pairs are mixed this morning, with the AUD/USD rallying, but the EUR/USD is unchanged and the GBP/USD down slightly. Meanwhile the US dollar continues to make gains against the Canadian dollar and Swiss franc.
The pound lagged yesterday after manufacturing production and goods trade balance dropped more than expected. The EUR/GBP rallied yesterday, reaching last week’s highs before retreating to just above the 0.8800 level.
The euro has also continues to make gains against in other areas, with the EUR/CHF rallying since the start of June.
The yen pairs are mixed, with the USD/JPY softer alongside the GBP/JPY and EUR/JPY while the AUD/JPY makes gains.
Coming up today
This morning, we have UK average earnings, claimant count change and the unemployment rate at 09.30.
At 10.00, we get German ZEW economic sentiment.
US CPI is at 13.30.
Trade Idea
The euro has held up relatively well recently, but the Aussie is performing well on hopes for regional peace on the back of Trump’s talks with North Korea. The EUR/AUD has more downside potential after a brief spurt at the beginning of the month.
Morning Report: 07.00 London
The US dollar remains at the highs as Trump’s Korea talks commence. The dollar pairs are mixed this morning, with the AUD/USD rallying, but the EUR/USD is unchanged and the GBP/USD down slightly. Meanwhile the US dollar continues to make gains against the Canadian dollar and Swiss franc.
The pound lagged yesterday after manufacturing production and goods trade balance dropped more than expected. The EUR/GBP rallied yesterday, reaching last week’s highs before retreating to just above the 0.8800 level.
The euro has also continues to make gains against in other areas, with the EUR/CHF rallying since the start of June.
The yen pairs are mixed, with the USD/JPY softer alongside the GBP/JPY and EUR/JPY while the AUD/JPY makes gains.
Coming up today
This morning, we have UK average earnings, claimant count change and the unemployment rate at 09.30.
At 10.00, we get German ZEW economic sentiment.
US CPI is at 13.30.
Trade Idea
The euro has held up relatively well recently, but the Aussie is performing well on hopes for regional peace on the back of Trump’s talks with North Korea. The EUR/AUD has more downside potential after a brief spurt at the beginning of the month.
A good way to play this is a LOWER trade predicting that the EUR/AUD will close below 1.5400 in 14 days for a potential return of 129%.
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