Morning Report: 06.15 London
- This morning, the big mover is the Australian dollar after the RBA have strong hints that it would be pausing before cutting interest rates further. The move boosted the Aussie yesterday, with the NZD/ USD riding on the move’s coat tails.
- Elsewhere, the dollar was under pressure despite better than expected GDP data. Of greater impact was consumer confidence coming in below expectations.
- The dollar pairs therefore have a positive edge, with the euro still mostly unchanged, while the pound recovers from days of heavy selling.
- The weaker dollar is helping the USD/ JPY to continue its down move.
Coming up today:
- Coming up today we have the UK Autumn statement from 12.30.
- From here we get US core durable goods and unemployment claims at 13.30. Core PCE price index and personal spending are released at the same time. New home sales and revised UoM consumer sentiment are released at 15.00.
Trade Idea:
- The AUD/ JPY has shown some remarkable resilience in the face of a strong US dollar and Japanese yen. If the yen were to halt its recent climb, we could see this pair launch higher.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
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