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Dollar Mixed On Tech Woes27 July 2018 by Dave Evans

Morning Report: 07.00 London

The US dollar is mixed after Facebook surprised markets with a shock drop in profits brought about by privacy costs. The AUD/USD is rising after hefty selling yesterday. The EUR/USD is making similar moves after dropping below 1.1650 yesterday following the ECB press conference.

By contrast, the pound is displaying follow-on weakness as the ECB looks set to throw cold water over Theresa May’s Brexit plans. The EUR/GBP closed lower in volatile trading yesterday, while the euro has the upper hand this morning.

The US dollar is weaker against the Canadian dollar, while the USD/CHF makes follow on gains.

Yen pairs are on the back foot, with most making follow-on selling. The EUR/JPY has now slipped below 129.50, while the GBP/JPY is testing 145.50. The USD/JPY is extending its mid-July slump.

Coming up today

Today, we have US advance GDP at 13.30, alongside the advance GDP price index.

At 15.00, we have revised UoM consumer sentiment.

Trade Idea

The GBP/JPY is weaker as the yen takes control and the pound suffers Brexit blues. Further downside is on the cards.

July 27th, 2018: Dollar Mixed On Tech Woes

A good way to play this is a ONE TOUCH trade predicting that the GBP/JPY will touch 143.00 within 14 days for a potential return of 155%.

July 27th, 2018: Dollar Mixed On Tech Woes