*IMPORTANT* -- Trade Copy MT4 not working this morning. Not sure when it will be up so I’m only making soft calls today, you can put the trades in your own account manually.
*Good morning/afternoon everyone!*
The U.S. dollar is trading slightly lower against all of the major currencies this morning but the greenback is trying to claw back. With that in mind, we are worried that the personal income and spending numbers scheduled for release today will fall short of expectations because of last month’s softer retail sales and wage growth. Although EUR/USD broke through 1.17 on the back of stronger EZ inflation data and a decline in Italian yields, it is backing off this key level. Some of the recent developments in Italy have brought reprieve to the markets but the exemption of sanctions for EU and Canada expires on Friday. Despite mixed data, sterling is the best performing currency. The Swiss Franc is also very strong thanks to better than expected Q1 GDP and retail sales growth. AUD and NZD are consolidating after yesterday’s gains while CAD extends higher. Like the greenback, the Canadian dollar is also in focus today with March and Q1 GDP numbers due for release.
*The MAIN THEMES I see today are*
-USD, -EUR, -AUD, -NZD
+GBP, JPY, +CHF
*Today’s Initial Trades*
Here’s the summary --
1. Sell EURJPY at market now 127.14, Stop 127.42, Target 126.95
2. Sell AUDCHF at .7465, Stop at .7493, Target .7445
Close ALL open day trades by 10:20AM NY / 15:20 GMT