Morning Report: 06.30 London
- The Australian dollar is the big mover this morning after quarterly CPI came in negative for the first time since 2009. Australian dollar pairs have sunk by over 1.5% on the news, with the AUD/ JPY reversing recent gains.
- Meanwhile, the dollar is looking to recover yesterday’s losses after Apple posted unexpectedly slow revenue growth. The USD/ JPY is so far unchanged ahead of the FOMC statement.
Coming up today:
- Coming up today, we have preliminary UK GDP at 09.30.
- This is followed by US pending home sales at 15.00, crude oil inventories follow at 15.30.
- The big ticket is the FOMC statement at 19.00 with no change expected.
Trade Idea:
- The GBP/ AUD has risen sharply over the last 5 days, not just this morning.
- The pound is generally showing some relative strength, which could point to further upside from here.
- A good way to play this is a HIGHER trade predicting that the GBP/ AUD will close above 1.9200 in 14 days for a potential return of 128%.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
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