Read the Daily Market Report from Dave Evans, Professional Trader
Aussie pushes higher on rate pause
Morning Report: 08.15 London• This morning, the Australian dollar is leading markets higher after the RBA elected to leave rates on hold at 3.25% instead of cutting them as expected. The AUD/USD is up 0.50%, with the AUD/JPY up 0.3%.
• The rise would be more significant were it not for the generally cautious stance being taken by traders across the wider market. The yen is looking stronger, with the EUR/JPY down 0.32% and the USD/JPY down 0.20%.
• Coming up today, we have Spanish services PMI due at 08.15, with Italian services PMI due at 08.45.
• UK manufacturing production follows at 09.30, with German factory orders at 11.00.
• Canadian Ivey PMI is released at 15.00, with a drop to 58.3 expected.
• UK NIESR GDP estimate is due at 15.00.
• Running throughout the day you can also expect lots of speculation surrounding the US presidential election as it draws to a close.
Bet Idea:
• The AUD/USD is moving w ell this morning, and the morning gains could improve further if the rest of the market decides to look at the glass half full. This will depend on the outcome of the US presidential election though. The outcome and indeed market reaction is anyone’s guess, but if there is at least an easing of tension across wider markets, the AUD/USD could rise even further in the next couple of days.
Morning Report: 08.15 London• This morning, the Australian dollar is leading markets higher after the RBA elected to leave rates on hold at 3.25% instead of cutting them as expected. The AUD/USD is up 0.50%, with the AUD/JPY up 0.3%.Click here to view full-sized image
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Click here to view full-sized image
• The rise would be more significant were it not for the generally cautious stance being taken by traders across the wider market. The yen is looking stronger, with the EUR/JPY down 0.32% and the USD/JPY down 0.20%.
Click here to view full-sized image
Click here to view full-sized image
Coming up today:
• Coming up today, we have Spanish services PMI due at 08.15, with Italian services PMI due at 08.45.
• UK manufacturing production follows at 09.30, with German factory orders at 11.00.
• Canadian Ivey PMI is released at 15.00, with a drop to 58.3 expected.
• UK NIESR GDP estimate is due at 15.00.
• Running throughout the day you can also expect lots of speculation surrounding the US presidential election as it draws to a close.
Bet Idea:
• The AUD/USD is moving w
ell this morning, and the morning gains could improve further if the rest of the market decides to look at the glass half full. This will depend on the outcome of the US presidential election though. The outcome and indeed market reaction is anyone’s guess, but if there is at least an easing of tension across wider markets, the AUD/USD could rise even further in the next couple of days.
Click here to view full-sized image
A good way to play this might be a ONE TOUCH trade predicting that the AUD/USD touches 1.0500 in 3 days time for a potential return of 116%.
Click here to view full-sized image
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
Summary:
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