Morning Preview: The USD Keeps Making its Move - Forex News by FX Leaders

Morning Preview: The USD Keeps Making its Move

Posted Tuesday, October 17, 2017 by
Rowan Crosby • 1 min read

Hey Guys,

As we spoke about extensively throughout yesterday's market coverage, the USD keeps on leading the pack. It’s continuing to grind higher and as such putting some of the major currencies under pressure.

The EUR was notably weaker and the USD/JPY was stronger which is a trade we spoke about yesterday.

 

DXY

US Dollar Index (DXY) – 240 min Chart.

 

Trade Ideas for Wednesday

My main focus for this morning will be to see if the USD can continue to retrace. It weakened going into the end of trade and if that continues that might help us.

I’m watching the AUD/USD and NZD/USD to see if both push higher, for a potential short at overhead resistance. Similarly, the USD/JPY offers a good buying opportunity at 112.00.

 

Top Economic News

Wednesday

GBP – Average Earnings

USD – Building Permits

 

Thursday

AUD – Employment

CHY – GDP

USD – Philly Fed

 

Friday

CAD – CPI & Retails Sales

USD – Existing Home Sales

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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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