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Today’s Trades 06.04.2018 – USDJPY, CADCHF, EURNZD
*Good morning/afternoon everyone!*
The U.S. dollar is trading lower against all of the major currencies this morning with the exception of the Japanese Yen. Recoveries at the end of last week carried over to this new trading week with the Australian dollar leading the gains. AUD is up more than 1% on the back of stronger retail sales data, lifting the New Zealand dollar with it. Profit taking on long US dollar positions also helped euro shrug off softer PPI. Today’s U.S. factory orders and durable goods report are not expected to have a significant impact on the greenback. With stocks pointing higher and yields edging upwards, there’s an appetite for risk that should benefit the yen crosses. We also see a further near term pullback in USD/CAD.
*The MAIN THEMES I see today are*
+EUR, +GBP, +AUD, +NZD, +CAD, +JPY, +CHF
*Today’s Initial Trades*
Here’s the summary --
1. Sell CADCHF at .7618, Stop at .7646, Target .7590
2. Sell USDJPY at 109.54, Stop ta 109.82, Target 109.26
3. Sell EURNZD at 1.6646, Stop at 1.6674, Target 1.6618
Close ALL open day trades by 10:20AM NY / 15:20 GMT