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Today’s Trades 10.13.2017 – EURUSD, EURNZD, EURGBP, CADCHF
*Good morning/afternoon everyone!*
The most important pieces of U.S. data this week are scheduled for release today and the steady to slightly weaker performance for the dollar suggests that investors are worried that retail sales and CPI will not live up to lofty expectations. Or they believe that even if these numbers are strong, it will not alter the odds of a December rate hike which is still nearly 2 months away. With that in mind, U.S. yields are pointing higher before the reports so we still expect a run-up in the greenback ahead of the 8:30am numbers. Meanwhile short covering continues to drive the AUD and NZD as these currencies shrug off mixed Chinese trade data. Sterling has extended its gains while the euro lags behind. The loonie is quiet but should tick up as well.
*The MAIN THEMES I see today are*
+GBP, +AUD, +NZD, +CAD
mildly +USD, -JPY
1. Sell EURGBP a .8893, Stop at .8923, Target .8873
2. Sell EURUSD at 1.1821, Stop at 1.1851, Target 1.1801
3. Sell EURNZD at 1.6546, Stop at 1.6576, Target 1.6526
4. Buy CADCHF at .7824, Stop at .7794, Target .7854
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