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