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Today’s Trades 03.16.2018 – NZDUSD,EURUSD,AUDCHF,EURNZD
*Good morning/afternoon everyone!*
USD/JPY was hit by heavy selling overnight as political uncertainty in the U.S. and Japan weighed on all of the yen crosses. In the U.S. Trump has decided to fire National Security Adviser H.R. McMaster, marking the 6th high profile exit in 2 weeks. In Japan, Aso’s government is plagued with corruption scandals. However USD/JPY has support at 105.50 so it remains to be seen whether this level can be broken. Euro and sterling are up against the dollar and outperforming the commodity currencies which are lower across the board. The New Zealand dollar is leading the slide following last night’s softer PMI manufacturing report but the Australian dollar and the Canadian dollars are trailing not far behind. USD/CAD has its eye on 1.31 and could test this level in early NY trade. Housing starts, building permits, industrial production and the University of Michigan consumer sentiment indices are scheduled this morning – softer data would exacerbate the slide in risk currencies.
*The MAIN THEMES I see today are*
+USD (except USDJPY)
-JPY,-EUR, -AUD, -NZD, -CAD
neutral CHF, GBP
*Today’s Initial Trades*
Here’s the summary –
1. Buy EURNZD at 1.7012, Stop at 1.6984, Target 1.7040
2. Sell NZDUSD at .7247, stop at .7275, Target .7219
3. Sold AUDCHF at .7380, Stop at .7408, Target .7352
4. Sell EURUSD at 1.2320, stop at 1.2348,Target1.2292
Close ALL open day trades by 10:20AM NY / 15:20 GMT