Dec 22nd, 2015: Oil Hits 11 Year Lows

• This morning, the dollar index is losing ground, but those losses are softened by the continues weakness in oil prices as crude hit an 11 year low yesterday.

• The euro continues to out perform the British pound after worse than expected CBI realised sales yesterday.

• Meanwhile, the Australian and New Zealand dollars are out performing, with the New Zealand dollar extending its strong run.

Coming up today: 

• Coming up today, we have UK public sector net borrowing at 09.30.
• This is followed by US final GDP at 13.30.

Trade Idea: 

• The NZD/USD has been the dollar pair to watch in the last month or so and there could be further upside from here as dollar uncertainty fades.

• A good way to play this is a HIGHER trade predicting that the NZD/USD will close above 0.6900 in 27 days time for a potential return of 201%.

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