Morning Report: 07.30 London
- This morning, China is under focus again after posting a larger than expected surplus. Exports dropped by a small amount, while imports collapsed by around 20%. This has hurt the commodity currencies of the Australian and New Zealand dollar as it provides further proof of a slowdown in commodity demands. The AUD/ JPY is off by 0.83%, with the AUD/ USD down by 0.63.
- The USD/ CAD is on the rise again as the dollar finds its feet and the commodity mini revival stumbles.
- Meanwhile, the dollar index has stabilised while the EUR/ USD continues to rise.
Coming up today:
- This morning, we have UK CPI at 09.30, with zero inflation growth expected. RPI, PPI and BOE credit conditions are released at the same time.
- German ZEW economic sentiment follows at 10.00.
Trade Idea:
- The NZD/ USD has had a strong run over the last month, but with the dollar stabilising and China wobbling, now is a good time play the pullback.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
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