Morning Report: 07.00 London
- This morning, the Australian dollar is performing well as the country heads back towards political certainty as a government lead by Malcolm Turnbull. The AUD/ USD is on the rise.
- Elsewhere, the British pound is performing better, largely as a result of investors getting used to the new reality of Brexit.
- There is a general sense of confidence returning, with the dollar index falling and the USD/ JPY holding at the lows.
Coming up today:
- Coming up today we have Halifax PMI at 08.30, followed by manufacturing production at 09.30.
- Following this we have the release of the ECB monetary policy meeting accounts.
- From 13.15 we switch to the US for ADP non farm employment change.
- Following this we get US unemployment and Canadian building permits at 13.30.
- At 15.00, we have Canadian Ivey PMI.
- US crude oil inventories are released at 16.00.
Trade Idea:
- The Australian dollar is performing well this morning, but is under performing the Australian dollar as prices rebound.
- On a longer term viewpoint through, we could well see further pound weakness, especially against a resurgent Australian dollar.
- A good way to play this is a LOWER trade predicting that the GBP/ AUD will close below 1.700 in 35 days for a potential return of 178%.
Powered by: Binary.com
