SaxoTV

#SaxoStrats - Why I'm buying EURUSD

791 views
August 17, 2015 china, china economy, china gdp, china growth, china manufacturing, china outlook, china policy, china politics, china slowdown, china stock market, chinese, chinese banks, chinese economy, chinese growth, chinese yuan, eur, euro, euro area, euro dollar, euro zone, eurodollar, europa, europe, europe growth, european, european central bank, european economy, european union, eurozone, eurozone crisis, eurozone economy, eurusd, fed, fed chairman, fed funds rate, fed meeting, fed minutes, fed news, fed policy, fed rates, fed taper, federal, federal government, federal open market committee, federal policy meeting, federal reserve, federal reserve janet yellen, federal reserve rate, federal reserve rate hikes, federal rseserve, federalreserve, fomc, fomc rates, inflation, interest rates, rate, rate decision, rate hike, rate hikes, rate rise, rate rise 2015, rates, rates decision, rates decisions, saxo, saxo bank, saxo tv, trading, tradingfloor.com, tradingfloor.com saxo tv, us, us banks, us dollar, us dollar index, us economy, us fed, us federal reserve, us government, us growth, us jobs, us jobs data, us stocks, usa, usd, usd eur, yuan, yuan devaluation
The US dollar is on the defensive following China's decision to devalue its currency last week. Saxo's John Hardy explains that the worry is that the Fed will delay a rate rise over fears that China is now exporting deflation. 

In this #SaxoStrat, Hardy says risk appetite is 'wobbly'. Until more economic data next month, he thinks USD could continue to trade defensively which is why he's eyeing EURUSD.

In this video, John looks closely at the levels including:
Entry: 1.1095-1.1115.
Stop: 1.1045.
Target: 1.1310.
Time horizon: one week.

You can read more about John's trade here.