October 11th, 2017: Dollar Retreats as Catalonia Pulls Back
October 11, 2017 7:13 am
Morning Report: 07.00 London
Most dollar pairs enjoyed strong gains, with the EUR/USD making a strong advance. This morning, dollar pairs are decidedly mixed, with the GBP/USD and AUD/USD making small losses, while the EUR/USD is unchanged. The euro’s gains came as Catalonia stopped short of formally requesting independence, opting instead to take a middle ground which keeps dialogue open.
The EUR/GBP is rising again this morning as it did yesterday, as European risk remains within acceptable limits.
The yen pairs are mixed, with the EUR/JPY on the rise, but the GBP/JPY slipping back.
Gold is slipping back this morning after four days of consecutive gains.
Coming up today
Today, we have JOLTS job openings are 15.00.
FOMC meeting minutes are released at 19.00.
Trade Idea
The IMF upgraded global growth forecasts yesterday, but made an unfortunate exception of the UK. The pound has recovered these last few days, but the bear trend remains firmly in place.
Morning Report: 07.00 London
Most dollar pairs enjoyed strong gains, with the EUR/USD making a strong advance. This morning, dollar pairs are decidedly mixed, with the GBP/USD and AUD/USD making small losses, while the EUR/USD is unchanged. The euro’s gains came as Catalonia stopped short of formally requesting independence, opting instead to take a middle ground which keeps dialogue open.
The EUR/GBP is rising again this morning as it did yesterday, as European risk remains within acceptable limits.
The yen pairs are mixed, with the EUR/JPY on the rise, but the GBP/JPY slipping back.
Gold is slipping back this morning after four days of consecutive gains.
Coming up today
Today, we have JOLTS job openings are 15.00.
FOMC meeting minutes are released at 19.00.
Trade Idea
The IMF upgraded global growth forecasts yesterday, but made an unfortunate exception of the UK. The pound has recovered these last few days, but the bear trend remains firmly in place.
A good way to play this is a LOWER trade predicting that the GBP/USD will close below 1.3100 in 21 days for a potential return of 176%.
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