Morning Report: 06.30 London
- This morning, markets are stable after the S&P 500 narrowly avoided making fresh 2015 lows yesterday. We are still heading for the worst quarter for US markets since 2011. The dollar index is falling back this morning after pushing and holding at the highs for days.
- The Aussie dollar recovered from early weakness yesterday and is building on the positive momentum with moderate gains. The NZD/USD is following suit.
- The British pound is outperforming slightly this morning after Carney’s speech last night. The EUR/GBP is so far negative for the first time in many days.
Coming up today:
- We have a busy day ahead today with German unemployment change at 08.55.
- This is followed by UK current account data at 09.30, released alongside UK final GDP data. Analysts are expecting gains of 0.7%.
- From here we get a slew of European data including CPI flash estimate and the unemployment rate.
- FOMC member Dudley speaks at 13.00.
- The Main highlight is ADP non farm employment change at 13.15 with gains of 192k expected.
- Canadian GDP follows at 13.30, with US Chicago PMI at 14.45.
- Fed Chair Yellen speaks at 20.00 to cap a very busy day.
Trade Idea:
- The AUD/USD stabilised yesterday, but we are now at the start of a busy week for economic releases with payrolls still to come on Friday.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
Summary:
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