October 5th, 2017: Dollar Backs Off
October 5, 2017 10:25 amVideo
Latest News
- 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
- EUR/USD: trading tips for beginners for European session on April 16 April 16, 2024
Morning Report: 07.00 London
This morning, the US dollar is showing moderate gains after backing off yesterday. US data was on the positive side yesterday with ADP Payrolls and ISM Manufacturing coming in slightly above expectations.
Dollar pairs are on the back foot this morning after most made minor gains yesterday. The Australian dollar is seeing the steepest declines, down over 0.5% after retail sales dropped more than expected.
The British pound is lower again, marking five days of consecutive losses despite better than expected services PMI yesterday.
The yen pairs are mixed, with the USD/JPY unchanged and the AUD/JPY extending losses.
Coming up today
Today we have the release of the ECB monetary policy meeting accounts at 12.30.
Then at 13.30, we Canadian trade balance. At the same time, we get US unemployment claims and trade balance.
At 14.10, FOMC member Powell speaks, followed by Harker at 15.00.
US factory orders at 15.00.
Trade Idea
The Australian dollar has resumed its downward trend this morning, with the July lows a potential target.
A good way to play this is a LOWER trade predicting that the AUD/USD will close below 0.7800 in 14 days for a potential return of 124%
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