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Daily Report

Dec 19th, 2017: Dollar Continues Decline

Morning Report: 07.00 London

This morning, the dollar index is further eating into Friday’s gains, extending the indifferent run seen since the start of the month.

The dollar pairs are higher this morning, but most are stuck within chopping trading ranges. The NZD/USD and AUD/USD are showing the strongest short terms trends, rising clearly off the December lows.

GBP/USD and EUR/USD have been in general decline since the start of the month, with the former especially showing positivity this morning.

Yen pairs have a slight negative bias so far this morning. This is helping the AUD/JPY to extend its tentative rally off the December lows.

The USD/CAD remains within touching distance of the December highs though.

Coming up today

This morning, we have US building permits, current account and housing starts at 13.30.

At 21.45, we get New Zealand current account and trade balance.

Trade Idea

The GBP/USD has been stuck in an indifferent range of late, but the overall trend bias remains positive.

Dec 19th, 2017: Dollar Continues Decline

A good way to play this is a HIGHER trade predicting that the GBP/USD will close above 1.3500 in 21 days for a potential return of 158%.

Dec 19th, 2017: Dollar Continues Decline