Majors on Thursday: USD Keeps on Driving Higher - Forex News by FX Leaders
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Majors on Thursday: USD Keeps on Driving Higher

Posted Thursday, December 7, 2017 by
Rowan Crosby • 1 min read

Hi Guys,

Markets have been pretty active this week and for the most part, have been giving some great trading opportunities. Yesterday we saw a bit of a spike in the USD/CAD after The BOC decided to keep rates on hold.

The Yen bounced nicely off our level that I spoke about yesterday, while the AUD/USD continued to slide after some weak data spurred the sellers.

As we move towards the end of the week, focus turns to the US employment data, which is due out on Friday. The majors will certainly be in the firing line but have the potential to go quiet in the leadup.

I’m looking for a move to 94.00 in the DXY in the next week or so.

Forex Majors

AUD/USD – The AUD has been selling off after weaker than expected GDP. Targeting 75 cents.

EUR/USD – The Euro is trading lower and is now back into the major range. Long-term bearish.

USD/JPY – The Yen bounced off 112.00. More to come?

NZD/USD – I’m still looking for opportunities to sell the Kiwi.

USD/CAD -The CAD got a good old whack thanks to the BOC.

USD/CHF – The Swissy continues to have strength coming in and is targeting overhead resistance.

GBP/USD – The pound has been weak and is drifting lower after what was a big rally.

US Dollar Index (DXY) – The USD keeps pushing higher. Next stop 94.00.

DXY

US Dollar Index (DXY) – 240 min Chart.
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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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