For the first time in a number of sessions, the US dollar has significantly backed off this morning. The US dollar index is on the back foot, helping the main dollar pairs to rise.
The AUD/USD is leading the charge, up 0.41%, with the NZD/USD higher but lagging.
The euro doesn’t appear to be too encumbered by the Catalonia independence unrest, with the EUR/USD making solid gains and the EUR/GBP also rising.
The pound is higher with the GBP/USD up for the third day in a row, this comes as Theresa May survives her latest challenge. Some are now commenting that May could we be the best option on acceptance that Tory/EU divisions run deep.
Yen pairs are mixed as the USD/JPY remains in a tight trading range.
Coming up today
Today, we have UK manufacturing production at 09.30, released alongside goods trade balance.
At 13.30, we get Canadian building permits.
FOMC member Kashkari speaks at 15.00.
Trade Idea
The NZD/USD remains weak, experiencing the smallest rebound of the dollar pairs. If the US dollar is to rebound this week, it could be the NZD/USD where we see the biggest falls.
Morning Report: 07.00 London
For the first time in a number of sessions, the US dollar has significantly backed off this morning. The US dollar index is on the back foot, helping the main dollar pairs to rise.
The AUD/USD is leading the charge, up 0.41%, with the NZD/USD higher but lagging.
The euro doesn’t appear to be too encumbered by the Catalonia independence unrest, with the EUR/USD making solid gains and the EUR/GBP also rising.
The pound is higher with the GBP/USD up for the third day in a row, this comes as Theresa May survives her latest challenge. Some are now commenting that May could we be the best option on acceptance that Tory/EU divisions run deep.
Yen pairs are mixed as the USD/JPY remains in a tight trading range.
Coming up today
Today, we have UK manufacturing production at 09.30, released alongside goods trade balance.
At 13.30, we get Canadian building permits.
FOMC member Kashkari speaks at 15.00.
Trade Idea
The NZD/USD remains weak, experiencing the smallest rebound of the dollar pairs. If the US dollar is to rebound this week, it could be the NZD/USD where we see the biggest falls.
A good way to play this is a LOWER trade predicting that the NZD/USD closes below 0.7000 in 14 days for a potential return of 195%.
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