The news that China is considering its future purchases of US Treasuries has rudely interrupted the previous sessions US$ strength and has left a rather mixed picture, with little directional bias now apparent so a cautious tone is required. The ECB Minutes are the main focus today which may impact on the Euro if there are any surprises but there is little else on the economic agenda today and it seems that we may be in for a range trading session while waiting on tomorrow’s US Jobs data. The crosses seem to suggest further Yen strength against the Eur and the Aud, while AudNzd seems set to remain under pressure and selling rallies may be a gameplan there. The clearest picture to me is still in WTI, where I suspect WTI is on a mission to test 65.00 at some stage although a dip back towards 62.00/50 at some stage could be on the cards, so buying dips is the theme here.
*Trade of the day: 1/11/2018 7:50 AM (AET)……
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
Buy WTI @ 62.50. SL @ 61.50, TP @ 64.00