• This morning, another round of slower Chinese data has hurt the Australian and New Zealand dollars this morning. The AUD/JPY in particular has failed to break key support at the fourth time of asking.
• Elsewhere, the euro is out performing after a strong showing yesterday as Greece just about dodged another economic bullet.
• The pound is flat so far today, but has continued its post election rally.
• The US dollar remains under pressure after large falls yesterday which coincided with a euro surge and oil price recovery.
• The S&P 500 is on the rise after volatile trading yesterday.
Coming up today:
• Coming up today we have the first post election UK average earnings and claimant count data at 09.30.
• This is followed by European flash GDP at 10.00.
• The main ticket is BOE governor Carney speaking at 10.30 with the release of the BOE inflation report.
• US retail sales follow at 13.30. Trade Idea:
• The AUD/JPY failed at the highs for the fourth time of asking, but momentum is behind the Aussie right now. Support and resistance lines rarely offer clean cut trading opportunities so this fourth rejection could inversely be a strong buy signal.
Disclaimer: This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
Further Signs Of China Cooling
Morning Report: 09.00 London
• This morning, another round of slower Chinese data has hurt the Australian and New Zealand dollars this morning. The AUD/JPY in particular has failed to break key support at the fourth time of asking.
• Elsewhere, the euro is out performing after a strong showing yesterday as Greece just about dodged another economic bullet.
• The pound is flat so far today, but has continued its post election rally.
• The US dollar remains under pressure after large falls yesterday which coincided with a euro surge and oil price recovery.
• The S&P 500 is on the rise after volatile trading yesterday.
Coming up today:
• Coming up today we have the first post election UK average earnings and claimant count data at 09.30.
• This is followed by European flash GDP at 10.00.
• The main ticket is BOE governor Carney speaking at 10.30 with the release of the BOE inflation report.
• US retail sales follow at 13.30.
Trade Idea:
• The AUD/JPY failed at the highs for the fourth time of asking, but momentum is behind the Aussie right now. Support and resistance lines rarely offer clean cut trading opportunities so this fourth rejection could inversely be a strong buy signal.
A good way to play this is a HIGHER trade predicting that the AUD/JPY will close above 96.00 in 14 days time for a potential return of 124%.
Disclaimer: This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
Summary:
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