Morning Report: 06.30 London
- This morning, the Australian dollar is furthering its recent run following stronger than expected trade balance data. This morning’s boost comes despite weaker than expected Chinese services PMI.
- The New Zealand dollar is also positive, though continues to lag its Australian cousin.
- By contrast, the euro continues to lag, weighed down by the potential impact of the ongoing migrant crisis across the region.
- The dollar and yen are mixed, with the dollar unchanged after heavy selling yesterday and the yen on the rise.
Coming up today:
- This morning, we have Halifax HPI at 08.30, followed by UK services PMI at 09.30.
- Following this we have US unemployment claims at 13.30, followed by revised non farm productivity.
- US ISM non manufacturing PMI then follows at 15.00, with factory orders released at the same time.
Trade Idea:
- The Australian dollar has the bit between its teeth as the US dollar falters.
- The absence of negative news from China is helping the Aussie to out perform as it avoids the uncertainty facing Europe.
- A good way to play this is a HIGHER trade predicting that the AUD/USD will close above 0.7400 in 14 days time for a potential return of 180%.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
Powered by: Binary.com
