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Today’s Trades 10.27.2017 – EURNZD and EURJPY
*Good morning/afternoon everyone!*
The 2 currencies which have received the most attention this week -- the euro and Canadian dollar extended their slide. Otherwise we’re seeing a relatively quiet start to a firm week for the greenback. There hasn’t been much in the way of U.S. data on the calendar until this morning’s Q3 GDP report. The University of Michigan Consumer Sentiment index is also scheduled for release but these are final and not preliminary numbers so they will be less market moving. Economists are looking for softer GDP growth and US yields are slightly lower which explains the lack momentum in USDJPY or the greenback in general. However we believe that the report could beat expectations because retail sales and trade activity improved between July and September.
*The MAIN THEMES I see today are*
-EUR, -CAD, -CHF
Slightly +USD, -AUD
neutral GBP and JPY
1. Sell EURJPY at market now 132.57, Stop at 132.87, Target 132.37
2. Sell EURNZD at 1.6978, Stop 1.7008, Target 1.6958
Cancel ALL pending orders by 3:30PM NY / 19:30 GMT / 5:30AM AEST
Close ALL open day trades by 4PM NY / 20 GMT / 6AM AEST