Aussie Slips on China Concerns

Morning Report: 09.00 London

• This morning, markets are mixed again, with a slight negative bias. The S&P 500 is slipping back while the dollar index pauses at the highs.
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• The Australian dollar is the big mover, after Chinese money supply data failed to impress.

                               

• Gold and silver are also lower by another notch as the dollar index holds firm at the highs.

• Despite the latest polls putting a ‘No’ vote back in front, the British pound is under performing so far this morning.

                               

                               
                                                                                                                                                                                               
Coming up today:

• Coming up today, we have UK construction output at 09.30.

•  This is followed by European industrial production at 10.00.

• US retail sales and import prices follow at 13.30, with preliminary UoM Consumer Sentiment due at 14.55.

• Eurogroup meetings of finance ministers runs throughout the day.

Trade Idea:

• The USD/JPY up trend is continuing unabated and when this pair catches a groove, it can run and run.

As such, a good way to play this is a HIGHER trade predicting that the USD/JPY will close above 107.35 in 5 days time for a potential return of 114%.

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Summary: