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*Good morning/afternoon everyone!*
With 24 hours to go before FOMC, USD/JPY continues to recover its losses. But today is not a day marked by USD strength as the greenback is unchanged to slightly lower versus EUR, AUD and GBP. This morning’s better than expected German IFO reported helped stave off further losses for EURO and the consumer confidence report will be in focus during the North American trading session. USD/CAD is still hovering near 1.25, AUD is extending its gains ahead of tonight’s CPI right while NZD is underperforming on the back reports of a deadly cow disease affecting one of the herds. Trading should be relatively subdued as traders count down to FOMC.
*The MAIN THEMES I see today are*
-NZD, -CHF, -JPY
mildly +USD, +EUR
neutral GBP, CAD
*Today’s Potential Ideas*
1. Sell NZDCAD at market now 0.9294, Stop at 0.9333, Target 0.9273
2. Place Order to Sell USDCHF at 0.9470, Stop at 0.9510, Target 0.9450
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