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*Good morning/afternoon everyone!* We are not seeing much consistency in U.S. dollar’s performance this morning as the greenback is trading higher against the European currencies
*Good morning/afternoon everyone!* The U.S. dollar is trading lower against most of the major currencies this morning as risk appetite improves after yesterday’s brutal selling. Stock futures are up, helping to bolster pairs like EUR/USD and USD/JPY. However as we begin the NY session, the decline in Treasury yields could also tip the scale and push USD/JPY lower. Yen crosses on the other hand will take their cue from stocks today. The currency most vulnerable to weakness is the Canadian dollar because oil prices are down more than 2% after President Trump tweeted that he hopes Saudi Arabia and OPEC will not cut oil production because he thinks oil prices should be much lower based on supply. Despite a softer Eurozone ZEW survey, EUR/USD is trading above 1.1250 on the hope that progress could be made on the Italian budget front. the expectations component of the ZEW surely also increased. The best performing currency this morning is sterling which is up on higher wages (despite a higher unemployment rate) and continued Brexit optimism. On the Brexit front, we are getting closer to a deal but with some counterproductive headlines, traders are still reluctant to overload sterling positions but when an announcement is made, we can almost be assured that there will be a strong followup rally. AUD and NZD are also up from yesterday but having risen strongly in Asian trade, they are mostly consolidating and even weakening slightly. We also have our eyes on the Swiss Franc which appears to be topping below 1.0130. *The MAIN THEMES I see today are* +EUR +CHF -CAD -JPY *Trading Biases* +EUR, +CHF, +GBP, -CAD, -JPY mildly +AUD, +NZD, -USD *Today’s Initial Trades* Here’s the summary – 1. Buy EURCAD at 1.4885, Stop at 1.4857, Target 1.4912 2. Buy EURUSD at 1.1247, Stop at 1.1219, Target 1.1275 3. Buy AUDCAD at .9531, Stop at .9503, target .9559 4. Sell AUDCHF at .7270, Stop at .7298, Target .7242
*Good morning/afternoon everyone!* The U.S. dollar is trading lower against most of the major currencies this morning as risk appetite improves after yesterday’s brutal selling.
*Good morning/afternoon everyone!* Short covering flows are strong this morning with most of the major currencies trading higher against the U.S. dollar. Thanks to the
*Good morning/afternoon everyone!* After selling off for most of this week, the U.S. dollar is trading higher against all of the major currencies this morning
Good morning/afternoon everyone! Its a risk on day in FX with all of the majors currencies up from yesterday’s levels. Investors continue to be unfazed
*Good morning/afternoon everyone!* Its a relatively quiet morning in the FX market with the U.S. dollar down against the euro and up against sterling. There’s
*Good morning/afternoon everyone!* The U.S. dollar is heading in the NY trading session lower against most of the major currencies. The only currency that is
*Good morning/afternoon everyone!* Most of the major currencies are trading higher this morning ahead of Fed Chair Powell’s speech at Jackson Hole. We know that