Morning Report: 06.30 London
- This morning, markets have a positive bias after Chinese GDP figures came in slightly above expectations. These figures were still the slowest quarterly rate since 2009, but the emerging service sector is helping to offset slowing industrials. The dollar index has a slight negative bias as traders continue to bet on a delayed rate hike.
- The euro is recovering after a slightly negative session on Friday where strong US consumer sentiment nudged the Fed argument back towards a hike.
- The NZD/USD is also positive, with the AUD/USD looking to recover its larger deficit from Friday.
- Meanwhile, gold looks set for its third negative session in a row.
Coming up today:
- Market reaction to the Chinese GDP data is likely to dominate today’s trading as we have a light economic calendar today. The main highlight is FOMC member Brainard speaking at 15.00.
Trade Idea:
- The euro appears to be taking two steps backwards for every three steps forwards, but at least it is moving off the September lows.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
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