China Data Ensures Poor Start

Morning Report: 08:30 London

• While the situation in Ukraine continues to stagnate, the other main market worry is rearing its head this morning – China. Chinese and Japanese economic data came in below estimates this morning, with exports a particular concern.

• Stock markets have opened the week on the back foot while the dollar index remains volatile.

• Commodities are the biggest losers so far, with gold and silver feeling the pressure.

• The Australian and New Zealand dollars are feeling the China heat, with the AUD/JPY down 0.43%. The Canadian dollar is also struggling, with the USD/CAD nudging higher.

• The euro continues to outperform, especially against the pound with the EUR/GBP rising again this morning.

                   

Coming up today:
• Coming up today we have all day Eurogroup meetings, with FOMC member Plosser speaking at 11.15. MPC member Bean speaks at 14.15.

Trade Idea:
• The GBP/JPY spun back after hitting resistance recently and this could be the catalyst for a reversal.

                     

A LOWER trade predicting that the GBP/JPY will close below 172.00 in 3 days time could return 123% if successful.

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

Summary: