• English

Daily Report

May 9th, 2018: Euro Hits 2018 Lows as Dollar Climbs

Morning Report: 07.00 London

The dollar index is in control once again as dollar pairs fall on the back foot. This comes despite Trump removing the US from the Iran nuclear deal.

The EUR/USD is trading well below 1.1900, extending its recent losing run. The GBP/USD is also struggling, but is holding up relatively well compared to the euro. The EUR/GBP fell yesterday though is unchanged this morning.

Meanwhile, the AUD/USD continues its losing run, falling to its lowest level since June 2017.

Yen pairs have a positive bias though, helped by the resurgent dollar. This reverses what has been a consistent losing run for many pairs.

Coming up today

Today, we have US PPI and Canadian building permits at 13.30.

US crude oil inventories are at 15.30.

The New Zealand rate statement is at 22.00.

Trade Idea

The AUD/USD has been on a consistent losing run, as the Australasian region comes under consistent pressure.

May 9th, 2018: Euro Hits 2018 Lows as Dollar Climbs

There could be more downside to come from here and a good way to play this is a LOWER trade predicting that the AUD/USD will close below 0.7400 within 14 days for a potential return of 142%.

May 9th, 2018: Euro Hits 2018 Lows as Dollar Climbs