Morning Report: 07.00 London
- This morning, the British pound is slipping back slightly after better than expected retail sales data yesterday that defied Brexit induced predictions. The move also helped the EUR/GBP to reverse its uptrend.
- It was a good day for dollar pairs in general yesterday, with the EUR/USD extending its recent rally. The move is reversing slightly this morning.
- The USD/JPY continues to reverse, with small gains this morning.
- The Australian and New Zealand dollars performed well yesterday, but both are peeling back this morning.
- The Canadian dollar’s run has a rare reversal this morning as oil prices continue their recovery run.
Coming up today:
- Coming up today, we have UK public sector net borrowing at 09.30.
- This is followed by Canadian CPI and retail sales at 13.30.
Trade Idea:
- The AUD/USD is down this morning, but the pair has often been down one day and up the next.
- We could see another short term burst from here, and a ONE TOUCH trade could be a good way to play this.
- A ONE TOUCH trade predicting that the AUD/USD will touch 0.7750 in 7 days could return 180%.
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