Daily Report September 28th, 2018: Dollar Extends Post Fed Gains

Morning Report: 07.00 London

The US dollar is experiencing an amount of selling pressure, but yesterday’s post-Fed gains are still unthreatened. The dollar remains the currency of choice for traders with its well communicated rate path pointing firmly higher.

The EUR/USD is recovering to test the 1.1650 level after huge losses yesterday, with the pair falling from 1.1750. The market is nervous as the Italian populist party pushed through a higher spending plan. The EUR/GBP also slumped further, with most of last week’s gains now erased.

The euro came under pressure, but the Swiss franc sunk even further, with the EUR/CHF making gains. The Swissy was one of the biggest losers against the dollar yesterday, with the USD/CHF punching above 0.9750.

The GBP/USD came in for selling pressure yesterday, but held up better than its peers. The AUD/USD also sunk back towards the lows yesterday.

The USD/JPY exploded back towards the highs, closing in on 113.50. Other yen pairs are making small gains this morning after a mixed performance yesterday.

Coming up today

At 08.00, we have the KOF economic barometer.

Spanish Flash CPI is at 09.00.

UK current account and final GDP data is at 09.30.

At 10.00, we have European CPI flash estimate.

At 13.30, we have Canadian GDP and RMPI.

Also at 13.30, we have Core PCE price index and personal spending.

At 14.20, we MPC member Ramsden speaking.

Chicago PMI is at 14.45.

Revised UoM Consumer Sentiment is at 15.00.

Trade Idea

The USD/JPY jumped higher yesterday, with follow-on buying this morning. The dollar is on a high, while the yen retreats, with further upside on the cards from here.

September 28th, 2018: Dollar Extends Post Fed Gains

A good way to play this is a ONE TOUCH trade predicting that the USD/JPY will touch 115.00 within 14 days for a potential return of 211%.

September 28th, 2018: Dollar Extends Post Fed Gains

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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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