Here are today’s Trading views and Ideas for the day ahead.
Let us know what you are looking at – Charts – Trade chatter – Trade positions.
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Busier day on the data front – UK jobs report 0830 GMT will be of interest to the cable traders. – European CPI figures
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Good morning all
An easing of EM currencies helping risk this morning. USDMXN is back under 19.00, making me feel a bit more comfortable. I missed an opportunity to short again yesterday, such is life.
The risk rally still looks tepid in the majors though so we could just be rising for want of no real reason to sell it again. We’re still off some key levels, like 1.1500 in EURUSD. These will be the real test.
The jobs report is up for the UK today but it’s not going to matter too much for the BOE trade, unless we get a stellar wages report. But, again, a decent set of numbers would give traders another incentive to bid the pound up again.
Good luck all.
Good Morning all. As a watcher and trader of cable. I note this morning that last Fridays London open level has been broken at 12791. Over the weekend and yesterday Cable has struggled to find buyers and not breached this level but this morning it appears to be on the move up. Cable has had a bear run all of last week and yesterday (excluding the small trading window on Sunday(GMT) but now it appears a correction may be underway. HOWEVER… this could change in a heart beat. There is the average earnings data due at 8:30 GMT and of course any geopolitical news in relation to Brexit, Turkey, World Trade etc could change things at any time. I am long at present but my bias is short. I will probably exit before the earnings data.
Good morning,
Mostly jobbing time, range trading mode with sell the risk pairs bias. To many headlines to keep longer term positions open.
Looking at AUDJY to cap 80.80, EURJPY 126.80/00. USDJPY should find resistance 111.20/30.
Still a part short USDMXN, held the resistance towards 19.40 well yesterday. Cover part this morning low 18.90s, looking to trade it around.
Funny EURCHf keeps hanging towards the lows, where’s our buddy? I was thinking EURCHF sub 1.13 would be a good buy as SNB shouldn’t be to far away but I’ll monitor it a bit more to see if we gat any hints. IF not , thee may be another 100p in the pipe before finding a more solid base.
Safe trading, happy hunting
I’ve got my scalping cap on and I cant see things changing short term. Playing the edges of the ranges and the rejections of the previous days highs / lows seems to be a working strategy in this market environment .
I had some luck with Yen trades so far today. I’m trying to hold as little as possible
. — I have an EURNZD short from last week on the books and a long NZDCAD. I was stopped on a EURCAD long yesterday. Holding a AUDUSD long trade with a stop at 0.7247 trying to take advantage of any bounce from the 250 barrier .
Keeping things tight and not overstaying my welcome in anything 🙂
Have a super day .
Hello
Its pretty quiet here on gwtf mid summer..a lot of wild moves and USD is benefiting at the moment..Made me think about USD peggs..Do you guys know of countries with a USD pegg that also has dwindling FX reserves that should get some attention? Could make some intresting reading for sure!
Hi Stefan.
Probably the main one is USDHKD but I don’t know of its reserves levels.
In this situation, they all face using up reserves if they choose to try and stop the weakness in their currencies.
432 Bln USD as of July. Going to take a few Georgie boys to take that one out unless China does something crazy .
And if worse comes to worse, mammy may lend a hand with their own 3 trillion I spose.