Today’s Trades 02.28.2018 – EURAUD, EURCAD, AUDUSD, USDCHF

*Good morning/afternoon everyone!*

While the U.S. dollar is trading higher against most of the major currencies this morning, its weakness against the Japanese Yen tells a different story. Risk aversion is clearly the dominant story as Asian and European stocks follow U.S. equities lower. However Dow futures are pointing to a mildly positive open so USD/JPY could stabilize above 107.00 in North American trade. Sterling is the weakest performer due in part to Brexit headlines. According to EU negotiator Barnier, Brexit transition is not a given. There’s no agreement on the border and Barnier wants one by Autumn. According to Prime Minister May, there will be hard border after exit. Her speech on Friday is not expected to instill any renewed confidence. EUR/USD is under quite a bit of pressure this morning and is eyeing a break of 1.2200 as a result. Despite stronger German labor data, the EZ’s CPI estimate for Feb dropped to 1.2% from 1.3%. The commodity currencies are mixed with AUD up, NZD down and CAD flat. Revisions to Q4 U.S. GDP could affect how the dollar trades but pending home sales are not expected to have a significant impact on the currency.

*The MAIN THEMES I see today are*

+USD
-EUR
-GBP
+AUD
-CHF
+CAD

*Trading Biases*

+USD, +AUD, +CAD, +JPY
-EUR, -GBP, -CHF, -NZD

*Today’s Initial Trades*

Here’s the summary --

1. Buy AUDUSD at .7806, Stop at .7778, Target .7834
2. Sell EURCAD at 1.5600, Target 1.5628, Target 1.5572
3. Sell EURAUD at 1.5647, Stop at 1.5674, Target 1.5619
4. Buy USDCHF at .9430, Stop at 9402, Target .9458

Close ALL open day trades by 10:20AM NY / 15:20 GMT

*Good morning/afternoon everyone!*

While the U.S. dollar is trading higher against most of the major currencies this morning, its weakness against the Japanese Yen tells a different story. Risk aversion is clearly the dominant story as Asian and European stocks follow U.S. equities lower. However Dow futures are pointing to a mildly positive open so USD/JPY could stabilize above 107.00 in North American trade. Sterling is the weakest performer due in part to Brexit headlines. According to EU negotiator Barnier, Brexit transition is not a given. There’s no agreement on the border and Barnier wants one by Autumn. According to Prime Minister May, there will be hard border after exit. Her speech on Friday is not expected to instill any renewed confidence. EUR/USD is under quite a bit of pressure this morning and is eyeing a break of 1.2200 as a result. Despite stronger German labor data, the EZ’s CPI estimate for Feb dropped to 1.2% from 1.3%. The commodity currencies are mixed with AUD up, NZD down and CAD flat. Revisions to Q4 U.S. GDP could affect how the dollar trades but pending home sales are not expected to have a significant impact on the currency.

*The MAIN THEMES I see today are*

+USD
-EUR
-GBP
+AUD
-CHF
+CAD

*Trading Biases*

+USD, +AUD, +CAD, +JPY
-EUR, -GBP, -CHF, -NZD

*Today’s Initial Trades*

Here’s the summary --

1. Buy AUDUSD at .7806, Stop at .7778, Target .7834
2. Sell EURCAD at 1.5600, Target 1.5628, Target 1.5572
3. Sell EURAUD at 1.5647, Stop at 1.5674, Target 1.5619
4. Buy USDCHF at .9430, Stop at 9402, Target .9458

Close ALL open day trades by 10:20AM NY / 15:20 GMT

Swing

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