Traders looked ahead toward another possible bid for 20,000 by the Dow industrials while the euro recovered slightly against the dollar despite predictions the 19-country shared currency will fall further in coming weeks.
We delve into 2017 trading ideas focusing on the currency markets, specifically the euro against the US dollar being a buy from a good risk/reward setup of 1/3 in what is a very crowded trade right now as we close out 2016, i.e., the US dollar "is the only game in town" trade.
Britain’s fiscal watchdog, the Office for Budget Responsibility, has just warned that public borrowing in the final four months of this financial year will be slightly higher than a year ago.
Next trading day's important events
- USDJPY: 117.22
- EURUSD: 1.0429
- S&P 500: 2,270.76
- NASDAQ : 5,483.94