Morning Report: 06.30 London
- This morning, the Australian dollar is flying high after mostly in line Chinese Manufacturing data, with Australian rates staying unchanged at 2.00%. The NZD/USD is following the Aussie higher.
- Elsewhere, the euro is under performing the British pound ahead of this week’s ECB meeting where Mario Draghi could announced plans that would weaken the euro further. By contrast, the pound sees the released of the latest banking stress tests.
- The US dollar is on the back foot as the USD/JPY slips lower.
Coming up today:
- Coming up today we have the release of UK Bank Stress results and BOE financial stability report at 07.00. Governor Carney then speaks at 09.00, followed by manufacturing PMI.
- Spanish Manufacturing PMI follows at 08.15.
- German unemployment change is released a 08.55.
- The European unemployment rate is due at 10.00.
- From 13.30, we switch to North America for Canadian GDP. US ISM Manufacturing follows a 15.00.
Trade Idea:
- The AUD/JPY has put in two days of solid gains, helped by the US dollar taking its foot off the gas. Chinese manufacturing provided further relief this morning, while a rate cut was avoided for another month.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
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