Mar 29th, 2018: Tech Sell-Off Dampens Risk Appetite
March 29, 2018 9:11 am
Morning Report: 07.00 London
This morning, global risk appetite has dampened after US tech stocks sold off further last night. The yen is in demand, pushing the USD/JPY lower after yesterday’s solid gains.
Other yen pairs are following suit, with the EUR/JPY and GBP/JPY slipping lower. The AUD/JPY appears to be bouncing around the lows.
Dollar pairs are mostly in the black this morning, with gains for the likes of the EUR/USD and GBP/USD. The AUD/USD too push pushing higher. The US dollar index made sizeable gains yesterday as GDP came in above estimates. The NZD/USD is the main exception, with losses to follow on from yesterday.
Gold is slightly stronger after two days of hefty selling.
Coming up today
Coming up today, we have UK current account data at 09.30. At the same time we get final GDP and net lending to individuals.
At 13.30, we have Canadian GDP and RMPI.
Also at 13.30, we have US core PCE price index, personal spending and unemployment claims.
Chicago PMI is at 14.45, with revised UoM consumer sentiment at 15.00.
Trade Idea
The USD/JPY enjoyed solid gains yesterday, but the longer term trends points lower still.
Morning Report: 07.00 London
This morning, global risk appetite has dampened after US tech stocks sold off further last night. The yen is in demand, pushing the USD/JPY lower after yesterday’s solid gains.
Other yen pairs are following suit, with the EUR/JPY and GBP/JPY slipping lower. The AUD/JPY appears to be bouncing around the lows.
Dollar pairs are mostly in the black this morning, with gains for the likes of the EUR/USD and GBP/USD. The AUD/USD too push pushing higher. The US dollar index made sizeable gains yesterday as GDP came in above estimates. The NZD/USD is the main exception, with losses to follow on from yesterday.
Gold is slightly stronger after two days of hefty selling.
Coming up today
Coming up today, we have UK current account data at 09.30. At the same time we get final GDP and net lending to individuals.
At 13.30, we have Canadian GDP and RMPI.
Also at 13.30, we have US core PCE price index, personal spending and unemployment claims.
Chicago PMI is at 14.45, with revised UoM consumer sentiment at 15.00.
Trade Idea
The USD/JPY enjoyed solid gains yesterday, but the longer term trends points lower still.
A good way to play this is a LOWER trade predicting that the USD/JPY will close below 106.00 in 14 days for a potential return of 137%.
Related Posts: