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Daily Report

Dollar Holds Gains08 February 2019 by Dave Evans

Morning Report: 07.00 London

The US dollar index is building on its recent bull run, rallying for the sixth straight day after Trump ruled out meeting China’s President Xi before a deadline for tariff increases.

The AUD/USD is slipping lower, falling to break through the mid-January lows, while the AUD/JPY follows the same pattern to test the 77.50 level.

The EUR/USD is unchanged this morning, potentially halting four straight days of losses, with support holding in the 1.1340 region. The GBP/USD is also unchanged following yesterday’s out-performance. Despite ongoing Brexit uncertainty, the EUR/GBP is making small gains after two days of losses in the pound’s favour.

The EUR/JPY is off for the fourth straight day, while the GBP/JPY has slipped lower again to test the 142.00 level.

The USD/CAD continues to rally hard as the US dollar makes ground against the Canadian dollar. The USD/CHF is unchanged as the pair hold the parity line.

Coming up today

Today, we have Canadian Employment change and unemployment rate data at 13.30.

Trade Idea

While the focus has been on golds stellar rise in 2019, silver has also performed well and made gains that have gone under the radar.

Dollar Holds Gains

There could be further gains from here and a good way to play this is a HIGHER trade predicting that silver will close above $15.80 in 14 days time for a potential return of 145%.

Dollar Holds Gains