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Daily Report

Nov 10th, 2017: Dollar Slips on Tax Cut Delays

Morning Report: 07.00 London

This morning, the US dollar is weaker again on concerns that US tax cut reforms will be delayed.

The USD/JPY dropped significantly yesterday, though is making small gains this morning, mainly on the back of a weaker yen.

The dollar pairs are mixed, with the GBP/USD enjoying a positive start alongside the AUD/USD.

The euro is struggling by contrast, with the EUR/GBP reversing after two days of gains.

The USD/CAD is reversing again as the dollar weakens and oil prices stabilise at the highs.

Coming up today

Today, we have UK manufacturing production at 09.30. This is released alongside Goods trade balance. UK NIESR GDP estimate is released at 13.00.

US Preliminary UoM consumer sentiment is released at 15.00.

Trade Idea

Another day, another headline Trump proposal has hit complications. This time the tax cuts proposed have hit complications. At the same time, the strong oil price is helping to drive the USD/CAD lower.

Nov 10th, 2017: Dollar Slips on Tax Cut Delays

A good way to play this is a LOWER trade predicting that the USD/CAD will close below 1.2600 in 14 days for a potential return of 168%.

Nov 10th, 2017: Dollar Slips on Tax Cut Delays