May 27th 2016: Market Eyes US GDP

• Markets are relatively quiet this morning as traders assess the consequence of oil prices breaking (and falling back from) $50 yesterday. Adding to the caution, we have US GDP data to contend with later. The US dollar is quiet so far, with the USD/ JPY also making small gains.

• Elsewhere, gold continues to suffer.

• While the euro nudges higher following two days of losses.

• Coming up today we have US preliminary GDP data at 13.40, followed revised UoM consumer sentiment at 15.00.
• Fed chair yellen then speaks at 18.15.

Trade Idea: 

• It says something of the relative weakness still endured by the Australian dollar that the GBP/ AUD so consistently while the pound faces Brexit uncertainty.

• There could be further upside from here over coming weeks too and a good way to play this is a HIGHER trade predicting that the GBP/ AUD closes above 2.0400 in 14 days for a potential return of 120%.

Powered by: Binary.com