Today’s Trading Plan – NZDCHF

*Good morning/afternoon everyone!*

The U.S. dollar is trading higher this morning despite lower U.S. rates which tells us that short covering is driving morning’s move. GBP has resumed its slide after popping higher before the labor market report. Although jobless claims increased less than the previous month, wage growth slowed which is a big problem for the UK. Politically, PM May’s deal has been delayed by the London tower fire block and while this may just be in respect to what is happening and not a reflection of the status of the talks, it could also delay the Queen’s speech and Brexit negotiations. The commodity currencies are very strong today with AUD and NZD leading the gains thanks to stronger Chinese data.

*The MAIN THEMES I see today are*

GBP weakness
AUD, NZD strength

*Trading Biases*
These will change after US data

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

*Today’s Potential Ideas*

Place Order to Buy NZDCHF at 0.7010, Stop at 0.6960, Target 0.7040

Swing

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