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Dollar Steady On Trade Optimism20 August 2018 by Dave Evans

Morning Report: 07.00 London

The US dollar is in control in tentative trading this Monday morning. The AUD/USD has gapped lower after hefty gains on Friday following poor US consumer sentiment data on Friday. The GBP/USD and EUR/USD are retreating further after two days of gains.

The USD/CAD sunk heavily on Friday as the Canadian dollar responded to strong economic data, including a lift to CPI.

The EUR/GBP is dipping back after pushing again to the highs last week again. This morning’s pullback is shallow so far as Brexit fears trump concerns over Europe’s exposure to Turkey.

Coming up today

Today we have Canadian governing council member Wilkins speaking at 14.15.

FOMC member Bostic speaks at 16.00.

German Buba President Weidmann speaks at 17.00.

RBA governor Lowe speaks at 23.00.

Trade Idea

The USD/JPY is on the rise this morning, but the pair is continuing the slow decline from the July peak.

Movements won’t be huge considering the dollar and yen’s safe haven status, but lower levels are a likely target.

August 20th, 2018: Dollar Steady On Trade Optimism

A good way to play this is a LOWER trade predicting that the USD/JPY will close below 110.00 in 30 days for a potential return of 141%.

August 20th, 2018: Dollar Steady On Trade Optimism