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Daily Report

October 26th, 2017: Aussie Dollar Remains Under Pressure

Morning Report: 07.00 London

This morning, the Australian dollar remains under pressure after suffering its heaviest selling in over a month. The AUD/JPY is off by 1.34% on the week, with the AUD/USD falling to its lowest since July and the GBP/AUD slumping to its lowest level since June.

The NZD/USD has followed the Aussie lower, slumping to its lowest level since May.

The euro and pound remain rangebound, though the GBP/USD posted an encouraging session yesterday. This came after UK GDP increased more than expected yesterday.

Yen pairs remain mixed, with the USD/JPY dropping off the highs, while the GBP/JPY and EUR/JPY enjoy more positive sessions.

Oil prices remain above $55, but the USD/CAD continues to enjoy gains, with small losses this morning on the back of a sharp rally this week.

Coming up today

Coming up today, we have the ECB rate statement at 12.45 and following press conference at 13.30.

US unemployment claims follow at 13.30.

Trade Idea

The NZD/USD continues to struggle alongside the AUD/USD and there is room enough for a final move lower before a rebound sets in.

October 26th, 2017: Aussie Dollar Remains Under Pressure

A good way to play this is a ONE TOUCH trade predicting that the NZD/USD touches 0.6800 in 7 days for a potential return of 119%.

October 26th, 2017: Aussie Dollar Remains Under Pressure