The US dollar index remains dominant this morning, as emerging market stress continues to generate Greenback interest. The dollar pairs are mixed this morning, with the USD/CAD of particular interest as the Canadian dollar continues to suffer as trade negotiations drag on. The USD/CAD has now risen for five straight days.
The USD/CHF also rose sharply yesterday, though is pulling back this morning as money flows back into the Swissy.
The EUR/USD and GBP/USD are unchanged so far this morning as both came under pressure yesterday on Brexit fears and poor UK construction PMI data. The EUR/GBP is edging slightly higher after a reversal yesterday.
The Australian dollar is unchanged at the lows after failing to hold the 0.7200 level yesterday.
Yen pairs have a slight positive bias, building on recent gains.
Gold continues to slowly drift lower after failing to hold the $1200 level.
Coming up today
UK services PMI is at 09.30
Canadian trade balance and Labor productivity are at 13.30.
At 15.00, we have the BOC rate statement.
Trade Idea
The AUD/USD continues to struggle, with more downsides on the cards after the breaking of the 0.7200.
Morning Report: 07.00 London
The US dollar index remains dominant this morning, as emerging market stress continues to generate Greenback interest. The dollar pairs are mixed this morning, with the USD/CAD of particular interest as the Canadian dollar continues to suffer as trade negotiations drag on. The USD/CAD has now risen for five straight days.
The USD/CHF also rose sharply yesterday, though is pulling back this morning as money flows back into the Swissy.
The EUR/USD and GBP/USD are unchanged so far this morning as both came under pressure yesterday on Brexit fears and poor UK construction PMI data. The EUR/GBP is edging slightly higher after a reversal yesterday.
The Australian dollar is unchanged at the lows after failing to hold the 0.7200 level yesterday.
Yen pairs have a slight positive bias, building on recent gains.
Gold continues to slowly drift lower after failing to hold the $1200 level.
Coming up today
UK services PMI is at 09.30
Canadian trade balance and Labor productivity are at 13.30.
At 15.00, we have the BOC rate statement.
Trade Idea
The AUD/USD continues to struggle, with more downsides on the cards after the breaking of the 0.7200.
A good way to play this is a LOWER trade predicting that the AUD/USD will close below 0.7125 in 14 days for a potential return of 198%.
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