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In the Zone
- USDJPY
- FTSE
- Gold
- Brent
- Dax
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Today's News Headlines
- It looks as though Hurricane Florence is going to make land fall on North Carolina on Friday which could necessitate billions of dollars in aid, could this have an effect in the USD?
Market Recap
The big mover yesterday was the USDCAD after comments from Donald Trump stating that trade talks were going well proved to be the catalyst for some CAD strength. This allowed pair to trade below the 200 hour MA at 1.3120 and even had a stab at the 100 day MA at 1.3035. This pair looks ominous at this point to have another attempt lower and I am still wondering if this is a buy the rumour sell the news scenario.
The EURUSD was a bit of a rollercoaster yesterday, the 100 and 200 hour MA between 1.1601 and 1.1640 continues to be the support and resistance levels that this pair bounces between. The topside trend line also comes in at 1.1645 and if the pairs are able to stay above the 1.1600 level today, then the bulls will certainly be in control.
We are still focusing our attention on the indices and commodities for now as we are finding some beautiful intraday setups taking place there. The new format of research certainly is proving to be popular, don’t forget to subscribe to receive the notifications.
Important Economic Data Due Today
14:30 USD PPI
Consensus: 0.2%
Effect: Higher than expected is good for the USD
16:30 USD Crude Oil Inventories
Consensus: None
Effect: No consistent effect on the USD
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