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Daily Report

Feb 21st, 2018: Pound Strong Ahead of Jobs and Inflation

Morning Report: 07.00 London

This morning, the British pound remains in a strong position despite the ongoing US dollar recovery. The EUR/GBP dropped yesterday to test the 0.8800 level. The GBP/USD made small gains yesterday, while the EUR/USD and other dollar pairs made losses. Today we have some crucial data in the form of earnings and inflation, with GDP data due tomorrow.

The US dollar index itself is higher again this morning, despite concerns over US debt relating to the deficit rollover. The EUR/USD is unchanged, while the AUD/USD continues to make losses.

The Swissy has weakened further as the USD/CHF continues to climb from recently lows.

The USD/JPY is set for four days of solid gains as the resurgent dollar meets an indifferent yen. Most other yen pairs are making good gains this morning with the exception of the AUD/JPY.

Coming up today

Today we have a slew of European data released starting at 08.00 with French flash manufacturing PMI and services PMI. At 08.30, we get the corresponding German data and European data at 09.00.

At 09.30, we have UK data with UK average earnings, claimant count change, public sector net borrowing and the unemployment rate.

UK inflation report hearings are at 14.15.

US existing home sales are at 15.00.

At 19.00, we get the release of the FOMC minutes.

Trade Idea

Precious metals have fallen out of favour recently, with gold’s sell off gathering headlines. However, Silver has also been troubled recently and also failed to reach the same highs as gold.

Feb 21st, 2018: Pound Strong Ahead of Jobs and Inflation

A good way to play this is a LOWER trade predicting that Silver closes below $16.25 in 14 days for a potential return of 124%.

Feb 21st, 2018: Pound Strong Ahead of Jobs and Inflation