Morning Preview: The USD Keeps Making its Move
Hey Guys,As we spoke about extensively throughout yesterday's market coverage, the USD keeps on leading the pack. It’s continuing to grin
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.
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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