There is nothing to really trade today as FX markets remained quiet overnight with most major pairs trading in a tight range amid quiet news flow and no tier-1 data on offer.
Here is a brief catch up on two currencies I’m looking at trading in the longer term and why.
The GBP is still a bullish currency however the BoE are trying to hold off becoming more hawkish for as long as the data will allow them, instead of acknowledging the recent good data they have switched focus to the areas that have failed to show much improvement, namely, wage growth. Wage growth needs to start showing an increase that is at least in line with inflation before the next rally on the GBPUSD can take off.
I’ll be looking to start buying GBP/USD around 1.6600 which is a good level of support with a long-term target of 1.7000 in the coming weeks / months.
I’m still viewing the NZD as a bullish currency in the longer-term, this is because New Zealand has one of the most attractive investment yields and theNZD is a very attractive carry trade, especially against currencies with very low interest rates.
From this point on I am looking to buy NZDUSD back every time it dips to around 0.8400, and especially against weaker currencies with a low or zero interest rate.
Here is a brief catch up on two currencies I’m looking at trading in the longer term and why.
The GBP is still a bullish currency however the BoE are trying to hold off becoming more hawkish for as long as the data will allow them, instead of acknowledging the recent good data they have switched focus to the areas that have failed to show much improvement, namely, wage growth. Wage growth needs to start showing an increase that is at least in line with inflation before the next rally on the GBPUSD can take off.
I’ll be looking to start buying GBP/USD around 1.6600 which is a good level of support with a long-term target of 1.7000 in the coming weeks / months.
I’m still viewing the NZD as a bullish currency in the longer-term, this is because New Zealand has one of the most attractive investment yields and theNZD is a very attractive carry trade, especially against currencies with very low interest rates.
From this point on I am looking to buy NZDUSD back every time it dips to around 0.8400, and especially against weaker currencies with a low or zero interest rate.
At no time should anyone view the information presented anywhere on this website as advice, recommendation or proven. Everything reflected is merely opinion and may not be accurate. The purpose of the site is to express the opinions and views of Jarratt Davis. There is no intention to offer specific help, advice or suggestions to anyone reading any of the content posted here.
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