You have no items in your cart.
*Good morning/afternoon everyone!*
It should be no surprise that today is a subdued day in the FX markets. Monday is Christmas, Tuesday is Boxing day and many European traders have already left early to spend the long weekend with their families. There are a flurry of U.S. economic reports due for release this morning but it should also be a quiet day in North America with limited participation. The dollar retains its bid after the Congress approved the bill to fund the government through January, avoiding a shutdown. In Spain, the Separatist parties won a majority in the election which is a problem for the national government as it has empowered the region’s ousted separatist leader to call for new talks. GDP numbers are due for release from Canada and they are likely to be firmer, helping loonie retain its gains. AUD is strong while NZD is weak. GBP is stuck in a 30 pip range near 1.34.
*The MAIN THEMES I see today are*
mildly -EUR, -CHF
*Today’s Initial Trades*
1. Sell NZDUSD at .7014, Stop at .7042, Target .6986
2. Sell GBPUSD at .13382, Stop at 1.3410, Target 1.3354 (though may not stick with it)
3. Buy AUDNZD at 1.1006, Stop at 1.0978, Target 1.1034
Close ALL open day trades by 10:20AM NY / 15:20 GMT