Daily Report October 1st 2018: US Deal Boosts Canada

Morning Report: 07.00 London

The Canadian dollar is the top performer, boosted by the news of a new US, Canadian and Mexican trade deal. The Canadian dollar has jumped higher, with the USD/CAD dropping to below 1.2850. The Canadian dollar is making even bigger gains against the likes of the pound and euro.

The euro remains under pressure, with the EUR/USD dropping below 1.1600 after failing at 1.1750 last week. After days of gains, the EUR/CHF is on the back foot as the Swiss franc finally finds buyers. The EUR/GBP is unchanged however.

The 1.3000 level is holding for the GBP/USD for now as the pound beats to the dollar’s drum.

The Aussie is also lower, but with a softer decline as the 0.7200 level holds.

The US dollar continues to make gains against the yen, with the USD/JPY challenging 114.00 level.

Coming up today

At 07.00, we have German retail sales at 07.00.

At 09.30, we have UK manufacturing PMI, released alongside net lending to individuals.

FOMC member Bostic is at 14.00.

At 15.00, we have ISM manufacturing PMI.

Trade Idea

The dollar continues to beat all comers, especially the yen, with the USD/JPY challenging 114.00.

October 1st 2018: US Deal Boosts Canada

A good way to play this is a ONE TOUCH trade predicting that the USD/JPY will touch 115.00 within 10 days for a potential return of 144%.

October 1st 2018: US Deal Boosts Canada

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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