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Aussie Extends Losses21 June 2018 by Dave Evans

Morning Report: 07.00 London

The US dollar has extended its winning run despite trade war worries. This has continued to force the dollar pairs ever lower. The AUD/USD is extending its losing run on the week, off by over 1%, though not as far as the NZD/USD which is off by 1.50% this week.

The GBP/USD is making a 2018 low this morning, having lost 8.4% since the start of the year. The EUR/USD is also off, but is so far holding above the lows. The EUR/GBP is unchanged this morning after slipping below 0.8800 yesterday.

The Canadian dollar continues to suffer, with the USD/CAD continuing to make fresh 2018 highs despite oil prices remaining within a stretch of the highs.

The USD/CHF is also back on the rise, heading back to the parity level for the first time since the beginning of May.

The yen pairs continue to add to yesterday’s gains, with the USD/JPY showing the greatest gains and trading above 110.50. The other yen pairs are on the rise with the GBP/JPY and EUR/JPY marking two days of gains.

Gold is extending its losses, building on Friday’s slump, with the precious metal making fresh 2018 lows.

Coming up today

Today, we have the SNB monetary policy assessment and Libor rate at 08.30. The press conference follows at 08.30.

At 09.30, we have public sector net borrowing.

German Buba president Weidmann speaks at 10.45.

The MPC official bank rate vote is at 12.00, alongside the monetary policy summary and official bank rate.

At 13.30 we have Philly Fed manufacturing index and unemployment claims.

BOE governor Carney speaks at 21.15.

Trade Idea

The Swiss franc continues to weaken in the face of the US dollar’s surge. Parity and beyond lots the likely next course.

June 21st, 2018: Aussie Extends Losses

A good way to play this is a ONE TOUCH trade predicting that the USD/ CHF will TOUCH 1.0075 within 14 days for a potential return 113%.

June 21st, 2018: Aussie Extends Losses