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Trading Ideas: EUR; AUD; CAD; GBP


Good morning, London!
Here are some ideas for the session..
AUD
We start with the Aussie.

RBA
⬇️
  • The market decided to focus on the fact that a higher AUD could be problematic. So, despite the upbeat tone seen in the statement, the Aussie quickly reversed.
Copper ⬇️
  • Copper continued last week's downtrend. Although, be aware that today the red metal rebounded overnight.
Technical Structure ⬇️
[list][/list]…
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All eyes on the Fed!


The GBP was the strongest currency of the day, as the Brexit uncertainty factor slowly fades away.. Although, all eyes seem to be on the FOMC Statement, later today. Honestly, I do not think that this will be an event, since it won’t even be complemented with a press conference. Friday’s NFP should be more volatile.

Economic Calendar - Feb 2:

Tomorrow might be a big day for the Pound!
@ 12PM we have the Official Bank Rate decision, which is expected to remain the same (0.25%).
@ 12:30PM Bo…
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FX Fundamentals: #USD #EUR #GBP #JPY #CHF #CAD #AUD #NZD

USD: The Buck is, fundamentally, the strongest currency. However, the global outlook seems to be forcing the Fed to scale back on their original plan of hiking rates 4 times this year.EUR: The Euro should be a weak currency at the moment, with the ECB trying everything in its power to lower its exchange rate. Global turmoil, however, might keep the single currency rallying on safe-haven flows.GBP: The Pound is not as bad as it seems, at least by comparison, with the BoE members constantly statin…
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The Day Before: #Global #equities up; #Crude #Oil Stable

  • London opened with a positive risk sentiment. News from a rise in global commodity prices certainly helped, with Aussie and Kiwi outperforming throughout the day. However, the session started with both EUROstoxx50 and Crude Oil drifting lower.
  • At 9:30 AM GMT there was, perhaps, the most expected event of the day - UK Services PMI. Surprise, surprise, despite a negative deviation, Cable still managed to turn around and make new a high.
[list][/list]…
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USD was the biggest loser; AUD, NZD and GBP outperformed

- The session's biggest loser was - without a doubt - the USD, breaking through major levels against the Pound, Euro and Japanese Yen.- Both Aussie and Kiwi capitalized on stronger commodity prices.- Sterling was perhaps the biggest surprise. Despite weaker than expected Services PMI data, the Cable managed to turn around and break through 1.41$.
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Cable trades above 1.41$ despite soft data

- The Sterling is now trading above 1.41$ despite soft Services PMI data.
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UK Services PMI at 52.7; Downward pressure on GBP

The UK Services PMI was worse than expected (52.7); Further downward pressure on the Pound is expected.
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FX Fundamentals: #USD #EUR #GBP #JPY #CHF #CAD #AUD #NZD

USD: The Buck is, fundamentally, the strongest currency. However, the global outlook seems to be forcing the Fed to scale back on their original plan of hiking rates 4 times this year.

EUR:
The Euro is a weak currency, at the moment, with the ECB trying everything in its power to lower its exchange rate. The global turmoil, however, might keep the single currency rallying on safe-haven flows.

GBP:
The Pound is as bad as it seems, at least by comparison, with the BoE member constantly stating…
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