This morning, the dollar index is coming off the highs as risk taking returns to markets. Dollar pairs are generally positive, with the AUD/USD leading the pack and pushing to break through the week’s impasse.
The GBP/USD is also positive this morning and lifting off the lows. 1.2600 is holding for now, but the pound remains vulnerable. The EUR/USD is struggling though, with follow on selling this morning that has pushed the pair below 1.1150. The EUR/GBP is slipping back for the third straight day as a consequence.
The USD/CHF is on the back foot as the Swissy finds buyers. The EUR/CHF continues to sink in the face of Swiss franc strength.
Yen pairs are largely positive, with the USD/JPY making gains and the AUD/JPY leading the pack. The GBP/JPY and EUR/JPY are positive and lifting off the lows.
Coming up today
It is a public holiday in France and Germany.
US preliminary GDP is at 12.30.
Canadian current account is at 12.30.
US FOMC member Clarida speaks at 16.00.
Governing Council member Wilkins speaks at 18.15.
Trade Idea
The euro continues to struggle against the Swissy, pushing the EUR/CHF lower.
Morning Report: 07.00 London
This morning, the dollar index is coming off the highs as risk taking returns to markets. Dollar pairs are generally positive, with the AUD/USD leading the pack and pushing to break through the week’s impasse.
The GBP/USD is also positive this morning and lifting off the lows. 1.2600 is holding for now, but the pound remains vulnerable. The EUR/USD is struggling though, with follow on selling this morning that has pushed the pair below 1.1150. The EUR/GBP is slipping back for the third straight day as a consequence.
The USD/CHF is on the back foot as the Swissy finds buyers. The EUR/CHF continues to sink in the face of Swiss franc strength.
Yen pairs are largely positive, with the USD/JPY making gains and the AUD/JPY leading the pack. The GBP/JPY and EUR/JPY are positive and lifting off the lows.
Coming up today
It is a public holiday in France and Germany.
US preliminary GDP is at 12.30.
Canadian current account is at 12.30.
US FOMC member Clarida speaks at 16.00.
Governing Council member Wilkins speaks at 18.15.
Trade Idea
The euro continues to struggle against the Swissy, pushing the EUR/CHF lower.
The March lows could be a target though and a good way to play this is a LOWER trade predicting that the EUR/CHF will close below 1.1150 in 14 days for a potential return of 249%.
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