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Aussie dollar breaks away Morning Report: 08.00 London
• This morning, financial markets have a positive bias with the Australian dollar breaking away from the rest of the pack following the release of the minutes from the last RBA meeting. The AUD/JPY is up 0.63% with the AUD/ USD up 0.52%.
• The dollar/ yen balance has tipped in favour of the US dollar with the USD/JPY up slightly this morning, despite the US dollar index dropping for its third day in a row.
• The EUR/USD continues to improve, bouncing off the lows around 1.2200
Coming up today:
Coming up today we have UK inflation data from 09.30 with the BOE inflation letter due later with Mervyn King also speaking at 10.00.
We also have German ZEW economic sentiment at 10.00 with European data due at the same time.
From 13.30 we have US CPI data with Canadian manufacturing sales released at the same time.
From 14.00 we have the latest rate statement from the bank of Canada, with no change expected.
US TIC long term purchases follow at 14.00 with capacity utilisation and industrial production at 14.15.
At 15.00 we have the most eagerly anticipated event of the day – Fed Chairman Bernanke’s testimony before congress.
Bet Idea:
The AUD/USD is looking to challenge over head resistance around 1.0300 after failing a number of times to break higher. With the IMF downgrading global growth yesterday, the odds of a sustained move higher are 50/50 at best, but with commodity prices generally more over sold than over bought, the commodity heavy Aussie dollar might have enough of an upside bias to make a trade interesting.
Aussie dollar breaks away
Morning Report: 08.00 London
• This morning, financial markets have a positive bias with the Australian dollar breaking away from the rest of the pack following the release of the minutes from the last RBA meeting. The AUD/JPY is up 0.63% with the AUD/ USD up 0.52%.
Click here to view full-sized image
Click here to view full-sized image
• The dollar/ yen balance has tipped in favour of the US dollar with the USD/JPY up slightly this morning, despite the US dollar index dropping for its third day in a row.
Click here to view full-sized image
Click here to view full-sized image
• The EUR/USD continues to improve, bouncing off the lows around 1.2200
Coming
up today:
Coming up today we have UK inflation data from 09.30 with the BOE inflation letter due later with Mervyn King also speaking at 10.00.
We also have German ZEW economic sentiment at 10.00 with European data due at the same time.
From 13.30 we have US CPI data with Canadian manufacturing sales released at the same time.
From 14.00 we have the latest rate statement from the bank of Canada, with no change expected.
US TIC long term purchases follow at 14.00 with capacity utilisation and industrial production at 14.15.
At 15.00 we have the most eagerly anticipated event of the day – Fed Chairman Bernanke’s testimony before congress.
Bet Idea:
The AUD/USD is looking to challenge over head resistance around 1.0300 after failing a number of times to break higher. With the IMF downgrading global growth yesterday, the odds of a sustained
move higher are 50/50 at best, but with commodity prices generally more over sold than over bought, the commodity heavy Aussie dollar might have enough of an upside bias to make a trade interesting.
Click here to view full-sized image
A HIGHER trade predicting that the AUD/ USD will
close above 1.0350 in 7 days time could return 169%.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
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Summary:
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