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Jan 19th, 2018: Aussie Extends Winning Run

Morning Report: 07.00 London

This morning, the US dollar continues to weaken after mixed economic data yesterday. Philly Fed and housing starts came in below estimates while unemployment claims were better than expected.

The dollar pairs are enjoying the dollar weakness, making a push for the highs. AUD/USD is extending its winning run and is currently the top performers on the week, up 1.33%. This comes as bond markets imply further rate hikes despite official RBA hesitation. The NZD/USD is lagging this morning though.

The EUR/USD is outperforming this morning after lagging this week. The GBP/USD is not far off the Aussie in the top performers chart. The EUR/GBP is rising after hefty losses for the last two days.

The yen pairs are on the back foot again, as money flows back into the yen, led by the USD/JPY.

The Canadian dollar is one of the weaker currencies, with the USD/CAD climbing.

Gold is climbing again after Wednesday’s reversal.

Coming up today

Today, we have UK retail sales at 09.30.

At 13.30, we get Canadian foreign securities purchases and manufacturing sales.

US preliminary UoM consumer sentiment is at 15.00, with FOMC member Quarles speaking at 17.15.

Trade Idea

The GBP/USD has the Brexit wind behind its sails, performing well this week as the US dollar slips back.

Politics, especially Brexit negotiations can be a fickle beast, but there’s no denying the momentum the GBP/USD is showing at the moment.

Jan 19th, 2018: Aussie Extends Winning Run

A good way to play this is a HIGHER trade predicting that the GBP/USD will close above 1.4000 in 21 days for a potential return of 150%.

Jan 19th, 2018: Aussie Extends Winning Run