• English

Daily Report

October 30th, 2017: Euro Higher Despite Catalan Uncertainty

Morning Report: 07.00 London

This morning, the euro is trading slightly higher despite uncertainty surrounding the next steps for Catalonia and Spain as Madrid takes direct control of the region. The EUR/USD has gapped higher at the open, while the EUR/GBP is higher.

The dollar is off the pace despite GDP data coming in above expectations on Friday.

The Australian dollar is nudging higher, while the NZD/USD is the worst performing currency so far today, testing new lows for the month.

The USD/CAD is unchanged after Friday’s reversal. This comes despite oil prices sustaining near the highs.

The USD/JPY is unchanged after Friday’s reversal.

Coming up today

Today, we have UK net lending to individuals at 09.30.

Following this we get US Core CPE and personal spending at 12.30.

Trade Idea

The EUR/USD is under pressure, but there is clear room for further downside from here.

October 30th, 2017: Euro Higher Despite Catalan Uncertainty

A good way to play this is a LOWER trade predicting that EUR/USD will finish below 1.1590 in 14 days for a potential return of 150%

October 30th, 2017: Euro Higher Despite Catalan Uncertainty