π MORNING MEETING & TOP TRADE IDEAS - JULY 09
π΄ GLOBAL STOCK MARKETS (MAIN CHART)
Morning trader and happy Friday! It looks like investor mood is finally turning better after a wave of risk aversion in the last few days.
Asia closed almost unchanged, but Europe turned green with the CAC 40 leading the pack (up 1.73%). US market futures are also turned bullish after yesterday's lower close.
π΄ US DOLLAR INDEX
The US dollar has faced some selling pressure this morning, attempting a break down below a hourly bullish trendline. Yields are somewhat higher, with the 2-year yield retreating from daily highs and pointing downwards now. If risk sentiment stay positive, we could see further downside in the USD during the day.
It's worth noting that the second half of the year is typically not as bullish for the US dollar as the first half, but a potential bear flattener (faster rising short-end yields as the Fed prepares for tapering and tightening) could provide some support for the US dollar in the coming months.
π΄ CURRENCY STRENGTH
The currency strength chart shows the completely opposite picture of yesterday. Risk currencies are charged, while USD, JPY and CHF are the weakest for the day.
π΄ ECONOMIC CALENDAR
- The top reports for today include the CAD employment report (expected better than last month).
- BoE's Bailey and ECB's Lagarde are expected to participate in a panel discussion in Venice titled "Digitalisation, intangibles and potential growth in a post-COVID world".
- A series of weaker UK reports, but the GBP is pretty much unfazed and breaking yesterday's highs. GBP/USD is currently a story of the USD.
π΄ TOP TRADE IDEAS - JULY 09
1. We are sticking to our trades from yesterday (we've been long GBP/USD and have another pending order)
2. The Canadian dollar could be an interesting trade today (oil inventories came in lower yesterday, oil is stronger, yield differentials are supportive, and employment numbers for Canada are expected better)
β REVIEW OF YESTERDAY'S TRADE IDEAS - JULY 08
- The 1.1735-50 support in GBP/USD held perfectly (check yesterday's post) and we closed part of our GBP/USD position in profit.
- We still have a pending order in NZD/USD
π΄ GLOBAL STOCK MARKETS (MAIN CHART)
Morning trader and happy Friday! It looks like investor mood is finally turning better after a wave of risk aversion in the last few days.
Asia closed almost unchanged, but Europe turned green with the CAC 40 leading the pack (up 1.73%). US market futures are also turned bullish after yesterday's lower close.
π΄ US DOLLAR INDEX
The US dollar has faced some selling pressure this morning, attempting a break down below a hourly bullish trendline. Yields are somewhat higher, with the 2-year yield retreating from daily highs and pointing downwards now. If risk sentiment stay positive, we could see further downside in the USD during the day.
It's worth noting that the second half of the year is typically not as bullish for the US dollar as the first half, but a potential bear flattener (faster rising short-end yields as the Fed prepares for tapering and tightening) could provide some support for the US dollar in the coming months.
π΄ CURRENCY STRENGTH
The currency strength chart shows the completely opposite picture of yesterday. Risk currencies are charged, while USD, JPY and CHF are the weakest for the day.
π΄ ECONOMIC CALENDAR
- The top reports for today include the CAD employment report (expected better than last month).
- BoE's Bailey and ECB's Lagarde are expected to participate in a panel discussion in Venice titled "Digitalisation, intangibles and potential growth in a post-COVID world".
- A series of weaker UK reports, but the GBP is pretty much unfazed and breaking yesterday's highs. GBP/USD is currently a story of the USD.
π΄ TOP TRADE IDEAS - JULY 09
1. We are sticking to our trades from yesterday (we've been long GBP/USD and have another pending order)
2. The Canadian dollar could be an interesting trade today (oil inventories came in lower yesterday, oil is stronger, yield differentials are supportive, and employment numbers for Canada are expected better)
β REVIEW OF YESTERDAY'S TRADE IDEAS - JULY 08
- The 1.1735-50 support in GBP/USD held perfectly (check yesterday's post) and we closed part of our GBP/USD position in profit.
- We still have a pending order in NZD/USD
