Morning Report: 06.30 London
- This morning, markets are peeling back a small portion of Friday’s NFP inspired dollar rally. The end of last week saw the release of better than expected US non-farm employment change, an event that underlined the Fed’s hawkish stance and probable interest rate hike in December. The dollar pairs saw the biggest reaction, with the dollar index pushing to multi-month highs.
- The USD/ JPY saw some of the biggest gains, firmly launching the pair away from the old deadlocked trading range. There is a small counter rally this morning, but nothing to write home about so far.
- The EUR/ USD has followed a similar pattern, extending its down trend, but making a small rally this morning.
- The Australian dollar continues to lose the gains from its September rally, while the NZD/ USD out performs most dollar pairs.
Coming up today:
- We have a very light economic calendar today, with the euro group meetings likely to have some impact.
Trade Idea:
- We’re not quite at the point where a December Fed rate hike is a full gone conclusion, but we’re heading in that direction. This comes while European data continues to disappoint just as German industrial production did on Friday.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
Powered by: Binary.com
