*Good morning/afternoon everyone!*

Most of the major currency pairs are trading sharply lower this morning with the losses led by AUD/USD and USD/JPY. Softer Australian data last night sent AUD tumbling and puts the currency at risk of a steeper decline to 78 cents. Sterling on the other hand is being hit by comments from Prime Minister May who proposed cap household energy prices and more social housing. The dollar is also weak with USD/JPY losing ground quickly on the back of falling yields and this is pushing all of the Yen crosses lower. North American traders will have their eyes on Canada and the U.S.’ trade balance reports along with speeches from Fed Presidents Powell, Williams and Harker (all by 10am NY).

*The MAIN THEMES I see today are*

-EUR
-GBP
-AUD
-JPY

*Trading Biases*

-EUR, -GBP, -AUD, -JPY, -CHF
neutral NZD
mildly +USD (but not vs JPY), +CAD

*Today’s Ideas*

1. Sell AUDNZD at 1.0928, Stop at 1.0958, Target 1.0908
2. Sell EURJPY at 132.15, Stop 132.45, Target 131.95
3. Sell EURUSD at 1.1744, Stop at 1.1774, Target 1.1724
4. Sell AUDCHF at .7836, Stop at .7866, Target .7816

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