This morning, the NZD/USD is one of the top performers after the RBNZ opted for a hawkish tone that points to rate hikes sooner than previously expected.
The dollar pairs are generally higher with the exception of the AUD/USD, with the dollar index slipping lower despite Trump’s Asia trade talks.
The EUR/GBP rose sharply yesterday but is starting to slip lower again this morning.
The USD/CAD continues to slip lower, this time led by the weaker dollar rather than the stronger oil trade.
Yen pairs are generally lower as the depressed dollar diverts money into the yen. The USD/JPY is down 0.25%.
While the dollar struggles, gold is higher for the second day in a row.
Coming up today
Today we have EU economic forecasts at 10.00.
At 13.30, we get Canadian NHPI at 13.30, released alongside US unemployment claims.
SNB Chairman Jordan speaks at 16.30.
Trade Idea
September was positive for the pound and poor for the Canadian dollar, with October furthering this trend. November has seen a rapid reversal in the balance between the currencies, helped by the doveish BOE forecast and a recovery in oil prices.
Morning Report: 07.00 London
This morning, the NZD/USD is one of the top performers after the RBNZ opted for a hawkish tone that points to rate hikes sooner than previously expected.
The dollar pairs are generally higher with the exception of the AUD/USD, with the dollar index slipping lower despite Trump’s Asia trade talks.
The EUR/GBP rose sharply yesterday but is starting to slip lower again this morning.
The USD/CAD continues to slip lower, this time led by the weaker dollar rather than the stronger oil trade.
Yen pairs are generally lower as the depressed dollar diverts money into the yen. The USD/JPY is down 0.25%.
While the dollar struggles, gold is higher for the second day in a row.
Coming up today
Today we have EU economic forecasts at 10.00.
At 13.30, we get Canadian NHPI at 13.30, released alongside US unemployment claims.
SNB Chairman Jordan speaks at 16.30.
Trade Idea
September was positive for the pound and poor for the Canadian dollar, with October furthering this trend. November has seen a rapid reversal in the balance between the currencies, helped by the doveish BOE forecast and a recovery in oil prices.
There could be further downside ahead and a good way to play this is a LOWER trade predicting that the GBP/CAD will close below 1.6650 in 14 days for a potential return of 120%.
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