Daily Report Nov 13th 2018: Dollar Retreats From 2018 Highs

The US dollar is pulling back from the 2018 highs, with dollar pairs enjoying a relief rally.

Both the euro and the pound were hit by Brexit uncertainty yesterday, with the euro coming in for intensive selling on concerns over Italy. The EUR/USD made fresh 12 month lows, falling below 1.1250, with small gains this morning. The GBP/USD also suffered from selling pressure, but held up better, forcing the EUR/GBP lower yesterday despite Brexit fears.

The AUD/USD is one of the top performers this morning, buoyed by China confidence.

The USD/CAD is on the back foot after the Canadian dollar enjoyed gains from higher oil prices.

The USD/CHF closed at its highest levels since early 2017 yesterday as dollar dominance sucked money out of the safe haven Swissy.

Yen pairs are higher this morning, with the AUD/JPY leading the way and erasing most of yesterday’s losses.

Coming up today

Today we have UK average earnings at 09.30, alongside the unemployment rate.

German ZEW economic sentiment is at 10.00.

US FOMC Member Brainard speaks at 15.00.

Trade Idea

The euro and Aussie are heading in opposite directions, with the latter helped by renewed China confidence.

Nov 13th 2018: Dollar Retreats From 2018 Highs

A good way to play this is a LOWER trade on the EUR/ AUD predicting that the EUR/ AUD closes below 1.5500 in 14 days for a potential return of 171%.

Nov 13th 2018: Dollar Retreats From 2018 Highs

Open Trade

Disclaimer: This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.

 

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