Oct 22nd, 2015: Portugal Left Alliance Offers No Surprise

Morning Report: 06.45 London

• This morning, markets are still showing no significant reaction to the new alliance of left leaning parties set to govern Portugal. So far the parties have given signs that they will stick with the program, but time will tell if they engage in some Greek style sabre rattling. The euro has so far reacted with a resounded ‘meh’.

• Elsewhere, the NZD/USD is out performing after drifting lower these last few days.

• No such luck for the AUD/USD as it drops lower for another session.

• The Canadian dollar came under heavy pressure yesterday as oil prices backed off. This comes on the back of a negative market reaction to Trudeau’s election.

Coming up today: 

• Coming up today we have UK retail sales at 09.30.
• This is followed the ECB bid rate at 12.45 and press conference at 13.30.
• Canadian retail sales are released at 13.30, with US unemployment claims at the same time.

Trade Idea: 

• The USD/CAD has rallied since the Trudeau election, but could have further to go if oil prices keep backing off.

• A good way to play this is a HIGHER trade predicting that the USD/CAD will close above 1.3200 in 14 days could return 157%.

This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.