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April 13th, 2018: Euro Slumps on ECB Minutes

Morning Report: 07.00 London

This morning, the euro remains under pressure following yesterday’s sharp sell-off. The minutes from the last ECB minute showed a complete lack of any hawkish sentiment that many hope for and expected. The EUR/USD erased all of yesterday’s gains and most of Wednesday’s advances.

Meanwhile, the EUR/GBP plunged to its lowest levels since June 2017 as the GBP/USD made gains yesterday. The pound is close to its highest levels of 2018 against the dollar. The EUR/GBP is making small gains this morning, but the damage has been done.

Other dollar pairs have been mixed as the dollar index made overall gains yesterday, with small losses this morning. The AUD/USD was poor yesterday with gains this morning, while the NZD/USD continues to advance.

The USD/CAD continues its impressive sell-off despite oil prices holding at 2018 highs. The USD/CHF has continued its mini rally however.

Coming up today

Coming up today, we have US preliminary UoM consumer sentiment at 15.00.

Trade Idea

The pound is on the verge of fresh 2018 highs, but any pop higher could be short lived given the ongoing drag of Brexit negotiations.

April 13th, 2018: Euro Slumps on ECB Minutes

A good way to play this is a ONE TOUCH trade predicting that the GBP/USD will touch 1.4400 within 14 days for a potential return of 119%.

April 13th, 2018: Euro Slumps on ECB Minutes