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Aussie Rebounds on Morrison Wins24 August 2018 by Dave Evans

Morning Report: 07.00 London

The Australian dollar is rebounding as Scott Morrison emerges to become the new Prime Minister. The AUD/USD sunk heavily yesterday, but the pair has recovered half those losses this morning. The AUD/JPY is recovering quicker after smaller losses yesterday.

The euro continues to out-perform and is now the top performer on the week. The EUR/USD is on the rise again as the US Dollar retreats. The EUR/GBP is at its highest closing level for the year as the pound backs off.

The British pound is still struggling through as the latest round of Brexit plans cause more consternation. The GBP/USD is making small gains after large losses yesterday.

The USD/CAD is on the back foot after large gains yesterday. The USD/CHF is following suit.

The yen pairs are higher, with the USD/JPY set for four days of gains. The EUR/JPY has rebounded smartly from the August lows, the GBP/JPY is lagging though.

Coming up today

This morning, we have US core durable goods orders at 13.30.

MPC member Haldane speaks at 13.55.

US Fed Chair Powell speaks at 15.00.

Trade Idea

The EUR/JPY has some impressive momentum behind it and this could well continue to the range high of 132.00.

August 24th, 2018: Aussie Rebounds on Morrison Wins

A good way to play this is a ONE TOUCH trade predicting that the EUR/JPY will touch 132.00 within 28 days for a potential return of 170%.

August 24th, 2018: Aussie Rebounds on Morrison Wins