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Daily Report

Dollar Steady Ahead of Fed & NFP01 May 2018 by Dave Evans

Morning Report: 07.00 London

The dollar continues to hover at the highs this morning. This 15 week high comes despite stock markets peeling off the highs and a massive day tomorrow. Wednesday brings both Non Farm Payrolls and the latest FOMC meeting.

Dollar pairs are mixed, with the AUD/USD lifting off the lows. By contrast, the EUR/USD and GBP/USD are making further (minor) losses ahead of public holidays across mainland Europe. The EUR/GBP is unchanged so far, following losses yesterday.

Both the USD/CHF and USD/JPY continued to climb yesterday, with 0.9950 now the next target for the Swissy.

Gold continues to retreat, with $1310 the next likely support level.

Coming up today

This morning, we have UK manufacturing PMI and net lending to individuals at 09.30.

RBA governor Lowe speaks at 10.20.

Canadian GDP is at 13.30.

US ISM Manufacturing PMI is at 15.00.

BOC governor Poloz speaks at 19.30.

New Zealand employment changed data is at 23.45.

Trade Idea

The USF/CHF continues to travel well, propelled by the weakening Swiss franc and powerful US dollar.

May 1st, 2018: Dollar Steady Ahead of Fed & NFP

Tomorrow’s FOMC could see recent gains accelerate and a good way to play this is a ONE TOUCH trade predicting that the USD/CHF will touch 1.0050 or higher within the next 14 days for a potential return of 186%.

May 1st, 2018: Dollar Steady Ahead of Fed & NFP