Today’s Trades 03.23.2018 – EURUSD, EURCHF, EURAUD, EURNZD

*Good morning/afternoon everyone!*

Overnight we saw continued weakness in Asian and European equities but not currencies. USD/JPY is trading back above 105 as stock futures bounce off their lows and 10 year Treasury yields turn positive. Whether this level holds remains to be seen but the for the time being, there’s no signs of an ugly open that could send the dollar to fresh lows. China announced its own tariffs overnight and now that both countries have taken these antagonistic steps, there’s no doubt trade war tensions will worsen before they improve. The Canadian dollar is in focus today with CPI and retail sales scheduled for release. The U.S. has durable goods and new home sales which are far less market moving. Commodity currencies in general are outperforming European currencies with the New Zealand dollar leading the gains.

*The MAIN THEMES I see today are*

+EUR
+AUD
+NZD
-CHF

*Trading Biases*

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

*Today’s Initial Trades*

Here’s the summary --

1. Buy EURCHF at 1.1683, Stop at 1.1655, Target 1.1711
2. Sell EURAUD at 1.5978, Stop at 1.6006, Target 1.5950
3. Bought EURUSD at 1.2334, Stop at 1.2306, Target 1.2362
4. Sell EURNZD at 1.7031, Stop at 1.7059, Target 1.7003

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

Swing

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