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September 8th, 2017: Dollar Slumps as Euro Rallies

Morning Report: 07.00 London

The dollar index remains on the back foot this morning as US investors downgrade further rate hike prospects and the recent storms take their toll.

Dollar pairs are on the rise this morning, with the EUR/USD continuing yesterdays gains made on the back of the ECB decision to taper quantitative easing.

Other notable dollar pair moves include the NZD/USD making the biggest gains this morning and the USD/CAD extending its bear run.

Yen pairs are negative, led by the USD/JPY which continues to push lower on the safe haven play.

Gold continues to push higher, helped by dollar weakness.

Coming up today

Today, we have RBA governor Lowe speaking at 09.30.

We also have UK manufacturing production at 09.30, released alongside goods trade balance.

At 13.30, we get Canadian employment change and the unemployment rate.

Trade Idea

Silver has enjoyed the recent dollar weakness and is being pushed higher by a wave of risk aversion along with Gold.

This shows no signs of slowing in the short term, so there could be further upside from here.

September 8th, 2017: Dollar Slumps as Euro Rallies

A good way to play this is a HIGHER trade predicting that silver will close above $18.50 in 14 days could return 200% if successful.

September 8th, 2017: Dollar Slumps as Euro Rallies