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Daily Report

Jan 11th, 2018: Aussie Boosted by Retail sales

Morning Report: 07.00 London

This morning, the Australian dollar is powering higher on better than expected retail sales. The AUD/USD is performing better, but it’s the AUD/JPY that is setting the pace and erasing most of yesterday’s losses.

The yen pairs are generally performing well as the week’s earlier yen surge retreats. The USD/JPY and GBP/JPY suffered large losses yesterday, but these are being partly reversed so far today.

The dollar pairs are mixed, with gains for the Aussie, but losses in most other places. The GBP/USD is down for the fourth day in a row, while the EUR/USD is undoing some of yesterday’s volatile, but ultimately positive session.

The USD/CAD has reversed sharply higher these last few days despite oil prices continuing to climb.

Gold has been rangebound for the last week or so after yesterday’s positive session that finished some way off the highs.

Coming up today

Coming up today, we have the UK BOE credit conditions survey at 09.30.

The ECB monetary policy meeting accounts released at 12.30.

At 13.30, we get Canadian NHPI, US PPI and unemployment claims at 13.30.

FOMC member Dudley speaks at 20.30.

Trade Idea

The Australian dollar is showing some good momentum at the moment, and this can be best seen on the AUD/JPY which is powering higher.

Jan 11th, 2018: Aussie Boosted by Retail sales

If the yen strength abating, a good way to play this is a HIGHER trade predicting that the AUD/JPY will close above 88.75 in 14 days for a potential return of 200%.

Jan 11th, 2018: Aussie Boosted by Retail sales