• English

Daily Report

October 2nd, 2017: Dollar in Demand

Morning Report: 07.00 London

This morning, the US dollar is back in demand, with most dollar pairs struggling. The dollar index is on the rise, with the likes of the AUD/USD, and EUR/USD firmly on the back foot. The former is continuing its losing run, while the European single currency is feeling the heat from the Catalan referendum unrest.

The pound is stronger this morning, with the EUR/GBP dropping. Friday saw gains despite strong hints of rate rises from Governor Carney.

The yen pairs are mixed, but the USD/JPY is pushing higher on the strong dollar.

Gold continues to slump, losing further ground in the face of the weaker US dollar.

Coming up today

Today, we have UK manufacturing PMI at 09.30

Following this we get US ISM manufacturing PMI at 15.00.

Trade Idea

Gold has been softening with some consistency since the beginning of September, with no significant turnaround to date. More downside is a realistic possibility.

October 2nd, 2017: Dollar in Demand

A good way to play this is a LOWER trade predicting that gold closes below $1250 in 14 for a potential return of 313%

October 2nd, 2017: Dollar in Demand