The Australian dollar is on the back foot this morning after the RBA hinted that a rate cut could be coming as early as June. The AUD/USD is back near the lows, having closed yesterday’s opening gap higher and trading at 0.6875. The AUD/JPY is following suit, having completely closed Monday’s opening gap.
The Dollar index is on the rise, boosted by the weak Aussie and is currently poised to take on last week’s highs.
The EUR/USD is slipping lower and set to challenge support at 1.1150, while the GBP/USD is falling, but minimising losses. The EUR/ GBP is slipping lower after another day of gains yesterday.
The USD/CHF is back on an upwards path, having held the 1.0050 support level.
Yen pairs are mixed, with the USD/JPY on the rise and the EUR/JPY slipping lower again.
Coming up today
Today, we have UK inflation report hearings at 08.30.
FOMC member Evans speaks at 14.45, while FOMC member Rosengren speaks at 16.00.
Trade Idea
The AUD/USD has shown that China’s wobble may have wider consequences and that could mean lower levels from here for the AUD/USD.
Morning Report: 07.00 London
The Australian dollar is on the back foot this morning after the RBA hinted that a rate cut could be coming as early as June. The AUD/USD is back near the lows, having closed yesterday’s opening gap higher and trading at 0.6875. The AUD/JPY is following suit, having completely closed Monday’s opening gap.
The Dollar index is on the rise, boosted by the weak Aussie and is currently poised to take on last week’s highs.
The EUR/USD is slipping lower and set to challenge support at 1.1150, while the GBP/USD is falling, but minimising losses. The EUR/ GBP is slipping lower after another day of gains yesterday.
The USD/CHF is back on an upwards path, having held the 1.0050 support level.
Yen pairs are mixed, with the USD/JPY on the rise and the EUR/JPY slipping lower again.
Coming up today
Today, we have UK inflation report hearings at 08.30.
FOMC member Evans speaks at 14.45, while FOMC member Rosengren speaks at 16.00.
Trade Idea
The AUD/USD has shown that China’s wobble may have wider consequences and that could mean lower levels from here for the AUD/USD.
A good way to play this is a ONE TOUCH trade predicting that the AUD/USD will TOUCH 0.6700 within the next 14 days for a potential return of 473%.
Related Posts: