March 5th 2019: Dollar Recovers On China Slowdown Fears
March 5, 2019 9:11 amVideo
Latest News
- Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday April 19 2024. April 19, 2024
- Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday April 19 2024. April 19, 2024
- Michelle Bowman reiterated Jerome Powell’s opinion April 19, 2024
- The ECB has finally made up its mind April 19, 2024
- The dollar is in control April 19, 2024
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
- Analysis for EUR/USD pair on April 18th. Dull ending to a dull week April 18, 2024
- USD/JPY: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- EUR/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: trading plan for the US session on April 18th (analysis of morning deals) April 18, 2024
- Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray) April 18, 2024
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
- Technical Analysis – GBPUSD tries to recoup some losses April 18, 2024
- USD/JPY in crisis April 18, 2024
- EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686 April 18, 2024
Morning Report: 07.00 London
The US dollar index is building on yesterday’s gains as traders seek out safe havens on the back of China GDP concerns. China is projecting growth of ‘just’ over 6% as the trade war bites, forcing traders to turn the perceived safety of the Greenback.
Dollar pairs are struggling, with the AUD/USD trading below the 0.7100 level and slowing further below last week’s losses. The RBA kept rates on hold at 1.50%.
Meanwhile, the EUR/USD crashed below 1.1350 yesterday after reversing Monday’s early opening gap lower. The GBP/USD followed suit, with early promise giving way to selling pressure that forced the pair below 1.3200, with follow on selling this morning.
Elsewhere, the USD/CAD continues to gain following the March 1st rally that pushed the pair to 1.3300. The USD/CHF remains rangebound however, struggling to make any progress either way from the 1.0000 parity line.
The yen pairs are mixed, with the USD/JPY making gains and challenging the 112.00 level. The AUD/JPY is unchanged and holding the 79.00 level. The EUR/JPY is enjoying small gains after falling below 127.00, while the GBP/JPY is unchanged after significant losses below 148.00 yesterday.
Coming up today
At 09.30, we have UK Services PMI.
FOMC Member Resengren speaks at 12.30.
ISM Non-Manufacturing PMI is at 15.00.
BOE governor Carney speaks at 15.35.
Trade Idea
The USD/JPY remains poised for higher levels as markets balance the two safe havens. The dollar has momentum behind it, making bets on higher levels attractive.
A good way to play this is a HIGHER trade predicting that the USD/JPY will close above 112.00 in 14 days for a potential return of 103% if successful.
Related Posts: