October 8th 2018: Dollar Back in Favour After NFP Miss
October 8, 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
The US dollar is back on the front foot following Friday’s NFP inspired sell-off. Payrolls increased less than expected, while unemployment improved. This gave a boost to dollar pairs on Friday, but this boost is receding this morning as the dollar pairs reassert its dominance.
The Austrian dollar is of particular interest as Chinese equities sell off severely this morning. The AUD/USD is holding at support around 0.7050 for now.
Elsewhere, the GBP/USD is on the back foot after Friday’s sizeable gains which were inspired by a fresh wave of Brexit confidence. Ireland and other European nationals have signalled a more accommodative approach with the UK. The EUR/GBP plunged below 0.8800 as the euro struggled and the pound gained.
The EUR/USD is on the back food after lagging yesterday as pressure on Italy intensified.
The USD/CAD is advancing for the fifth straight day, with the 1.3000 the next level of target.
The USD/JPY is making gains once again after falling from the highs on Thursday last week.
Coming up today
There are no economic items of note today. Though there are public holidays in Japan, Canada and the USA.
Trade Idea
The GBP/USD has performed relatively well recently as Brexit hopes increase. However, gains could be limited while losses could also have a floor as investors are wary of being caught out by a Brexit boost.
A good way to play this is an In/OUT trade predicting that the GBP/USD will close between a high of 1.3250 and a low of 1.2950 in 30 days time for a potential return of 150%.
Related Posts: