• This morning, China is under focus again after posting a larger than expected surplus. Exports dropped by a small amount, while imports collapsed by around 20%. This has hurt the commodity currencies of the Australian and New Zealand Dollar as it provides further proof of a slowdown in commodity demands. The AUD/JPY is off by 0.83%, with the AUD/USD down by 0.63.
• The USD/CAD is on the rise again as the Dollar finds its feet and the commodity mini revival stumbles.
• Meanwhile, the Dollar index has stabilised while the EUR/USD continues to rise.
Coming up today:
• This morning, we have UK CPI at 09.30, with zero inflation growth expected. RPI, PPI and BOE credit conditions are released at the same time.
• German ZEW economic sentiment follows at 10.00.
Trade Idea:
• The NZD/USD has had a strong run over the last month, but with the Dollar stabilising and China wobbling, now is a good time play the pullback.
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.
China Import Slump
Morning Report: 07.30 London
• This morning, China is under focus again after posting a larger than expected surplus. Exports dropped by a small amount, while imports collapsed by around 20%. This has hurt the commodity currencies of the Australian and New Zealand Dollar as it provides further proof of a slowdown in commodity demands. The AUD/JPY is off by 0.83%, with the AUD/USD down by 0.63.
• The USD/CAD is on the rise again as the Dollar finds its feet and the commodity mini revival stumbles.
• Meanwhile, the Dollar index has stabilised while the EUR/USD continues to rise.
Coming up today:
• This morning, we have UK CPI at 09.30, with zero inflation growth expected. RPI, PPI and BOE credit conditions are released at the same time.
• German ZEW economic sentiment follows at 10.00.
Trade Idea:
• The NZD/USD has had a strong run over the last month, but with the Dollar stabilising and China wobbling, now is a good time play the pullback.
A good way to play this is a LOWER trade predicting that the NZD/USD will close below 0.6600 in 14 days time for a potential return of 201%.
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.
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