Sept 28th 2016: All Eyes On Yellen

• The dollar index remains stuck in a range while the US presidential election remains tumultuous. The USD/JPY is performing slightly better, starting to put two straight winning days together.

• The Australian dollar is one of the top performers, with the AUD/USD continuing its winning streak. The NZD/USD is struggling, however.

• Meanwhile, the euro is struggling, with the EUR/GBP dipping lower and the EUR/USD set for two straight losing days.

Coming up today: 

• Coming up today, we have various central bank speakers, starting with MPC member Shafik at 09.05.
• Following this, we have US core durable goods orders at 13.30.
• At 15.00, Fed chair Yellen testifies, with FOMC member Bullard speaking at 15.10.
• At 15.30, ECB president Draghi speaks alongside crude oil inventories.

Trade Idea: 

• The Australian dollar remains in a positive position, helped by the dollar’s electoral impasse. There is further upside potential from here.

• A good way to play this is a HIGHER trade predicting that the AUD/USD will close above 0.7750 in 21 days for a potential return of 170%.