*Good morning/afternoon everyone!*

The U.S. dollar is trading lower across the board and this weakness drove EUR/USD beyond 1.18 and GBP/USD above 1.32. However as we start the North American session, both of these currencies are a bit softer yet the decline in U.S. rates should keep these uptrends intact. These currencies are also supported by data with Germany reporting a larger trade balance and the UK reporting faster industrial and manufacturing production growth. The U.S. dollar on the other hand is lower on fresh concerns about North Korea. Apparently NK told Russia they have an intercontinental missile capable of traveling 3000 km which would put it within reach of US territory. The commodity currencies are up across the board on dollar weakness and higher commodity prices. There are no U.S. economic reports on the calendar today but Fed President Kashkari speaks today along with Bank of Canada Deputy Governor Wilkins.

*The MAIN THEMES I see today are*

+EUR
+GBP
+CAD
-AUD

*Trading Biases*

+EUR, +GBP, +CHF, +CAD
-USD, -AUD, -JPY
mildy -NZD,

*Today’s Ideas*

1. Buy EURUSD at 1.1780, Stop at 1.1750, Target 1.1800
2. Sell USDCAD at 1.2515, Stop at 1.2545, Target 1.2495
3. Sold AUDCHF at .7600, Stop at .7630, Target .7580
4. Buy GBPJPY at 148.25, Stop at 147.95, Target 148.45

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