Morning Report: 06.15 London
- Monday’s early risk-off reaction has been reversed across most world markets, with follow on buying through this morning. The dollar index is back to test last week’s highs, while the USD/ JPY saw a large buying spike.
- The dollar pairs are on the back foot as the euro tests multi-month lows and the likes of the NZD/ USD sell off after a third month of 1.9% inflation.
- The yen pairs are generally holding yesterday’s gains though, with the GBP/ JPY getting back on track.
- Gold briefly glittered yesterday as caution reigned, but the precious metal is on the retreat once again.
Coming up today:
- Coming up today we have UK CPI and RPI at 09.30, with another bout of deflation expected.
- German ZEW economic sentiment follows at 10.00, with Europe wide data released at the same time.
- From 13.30 we switch to north America for US CPI, followed by capacity utilisation and industrial production at 14.15. Mortgage delinquencies follow at 15.00
Trade Idea:
- Oil prices remain under pressure, which is bad news for the beleaguered Canadian dollar. While the US dollar remains strong, the USD/ CAD looks set to rise further.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
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