Morning Report: 06.15 London
- Hopes are high for strong US jobs data in today’s ADP payrolls ahead of Friday’s Non Farm Payrolls. The US dollar came under pressure these last two days, but is nudging higher again today with an ADP gain of 191k expected.
- The Aussie dollar was the big winner yesterday and is holding its ground this morning after GDP came in above estimates. The NZD/USD is riding higher on its coat tails.
- The euro enjoyed a positive session yesterday, but will have to go some way to arrest the current slide, with small losses this morning.
Coming up today:
- Coming up today we have Spanish unemployment change at 08.00.
- This is followed by UK construction PMI at 09.30.
- European CPI flash estimate then follows at 10.00.
- US ADP employment is the day’s main ticket at 13.15, with Fed chair Yellen speaking at 13.30, then again at 17.25.
- From 15.00, we have the Canadian rate statement with no change expected.
Trade Idea:
- The Aussie dollar engine is turning over nicely as China continues to stabilise from its wobble and the possibility of a rate cut recedes.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
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