Today’s Trading Plan 08.14.2017 – USDCAD, EURGBP, NZDUSD

*Good morning/afternoon everyone!*

After days of relentless selling, the dollar is trading higher this morning against all of the major currencies as the lack of any antagonistic moves over the weekend between the U.S. and North Korea brought a wave of relief to the FX market. Some investors are beginning to look past the dramatic rhetoric but this Administration is different from any that we’ve seen before aside from silence there’s been no real positive developments on the geopolitical front. In terms of economic data, Japanese GDP was much stronger than expected but ignored by the market. The same is true of Chinese industrial production and retail sales. With U.S. yields also moving higher, the recovery that we’ve seen in USD/JPY today could be sustained through the North American session.

Our USD/JPY short swing trade has been triggered. We still like the trade and will see how it trades ahead of tomorrow’s U.S. retail sales report. We may close the trade before the data as we’re bullish retail sales -- though we still don’t believe one strong spending report will “save the dollar.”

*The MAIN THEMES I see today are*

+USD
-GBP
-CAD
-AUD
-NZD

*Trading Biases*

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

*Today’s Potential Ideas*

1. Buy USD/CAD at market now 1.2710, Stop 1.2670, Target 1.2730
2. Buy EURGBP at market now 0.9095, Stop 0.9055, Target 0.9115
3. Sell NZDUSD at market now 0.7295, Stop at 0.7335, Target 0.7274

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

Swing

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