October 10th 2018: Dollar Slows On Market Losing Streak
October 10, 2018 8:11 amVideo
Latest News
- Will the euro manage to save itself? April 17, 2024
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
Morning Report: 07.00 London
Stock markets are continuing their losing streak, with US yields rises stabilising. In this environment, the US dollar is struggling, helping dollar pairs to rise.
The AUD/USD is higher for the third day in a row, as the 0.7050 level holds. The GBP/USD remains strong, notching up small gains this morning as sterling continues to rise towards the September highs.
The euro continues to lag, with the EUR/USD volatile yesterday, but ultimately finishing slightly higher, with small gains this morning. The EUR/GBP remains pressured after dropping below 87.50 yesterday. The EUR/CHF is mixed, with the 1.1400 level holding for now.
The USD/CAD reversed yesterday following five days of gains as the dollar finally gave up its recent pressure. The USD/CHF is stuck just below 0.9950 as the dollar and Swiss franc safe haven cancel each other out.
The USD/JPY is making small gains after slumping from 114.50 last week on strong demand for the Japanese yen. The AUD/JPY and EUR/JPY are following a similar pattern with two days of gains following consecutive losses. The GBP/JPY continues to hold up relatively well though, staying within reach of the highs.
Coming up today
Today, we have UK GDP and manufacturing production at 09.30.
MPC member Haldane speaks at 10.00.
US PPI is at 13.30.
FOMC member Bostic speaks at 23.00.
Trade Idea
The Australian dollar has recovered well these last few days as the dollar backs off the pace. However, considerable risks still remain with China a tinder box of risk. The long term trend is lower and it could pay to stick with this.
A good way to play this is a LOWER trade predicting that the AUD/USD will close below 0.7050 in 14 days for a potential return of 254%.
Related Posts: