Markets rally despite China Production Slip 

Morning Report: 08:30 London

• Financial markets have a positive bias this morning as last night’s positivity from the US spread throughout Asia overnight. This bullish mood is carrying over despite poor Chinese data overnight which saw another slip in production, investment and retail sales.
         

                             
                                                                                                                                                       • A strong dollar index has forced the main dollar pairs on the back foot. The Australian dollar is especially hard hit with its close links to China.

• Commodities have caught the same cold.

                             

                             

• The yen pairs are on the rise as the US dollar advances. The EUR/JPY is the biggest mover.

                             

                             
                     
Coming up today:

• Coming up today we have MPC member Cunliffe speaking at 09.10, with big potential for movement on the pound on interest rate speculation.

• Following this, we have German ZEW Economic Sentiment at 10.00 with European ZEW at the same time.

• Australian budget release is released at 12.30.

• US core retail sales follow at 13.30, with business inventories at 15.00.

Trade Idea:

• The EUR/JPY has bounced off support, with potential for upside from here.

                             

A good way to play this is a HIGHER trade predicting that the EUR/JPY closes above 141.25 in 3 days. This could return 155% if successful.

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

Summary: