• The situation in Iraq is for the moment at least stable, with the resignation of Iraqi PM Nouri al-Maliki opening the doors for a more inclusive government and potentially a more coordinated response to the Islamic State advance. The S&P 500 is holding at recent highs, as is the dollar index.
• The dollar index is managing to push higher, with the AUD/JPY up 0.19%, helped by the weakening yen.
• The euro continues to maintain a slight advantage over the pound.
Coming up today:
• Coming up today we have UK second estimate GDP at 09.30, with a gain of 0.8% expected.
• We have a busy afternoon in North America, with US PPI, Canadian manufacturing sales and US Empire Sate Manufacturing at 13.30. These items are followed by TIC long term purchases at 14.00, with capacity utilisation rate at 14.15 and industrial production at 14.15.
Trade Idea:
• It’s hard ignore the strength of the Australian dollar, especially in context of poor Chinese data this week.
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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Markets Pause as Iraq Stabilises
Morning Report: 09.00 London
• The situation in Iraq is for the moment at least stable, with the resignation of Iraqi PM Nouri al-Maliki opening the doors for a more inclusive government and potentially a more coordinated response to the Islamic State advance. The S&P 500 is holding at recent highs, as is the dollar index.
• The dollar index is managing to push higher, with the AUD/JPY up 0.19%, helped by the weakening yen.
• The euro continues to maintain a slight advantage over the pound.
Coming up today:
• Coming up today we have UK second estimate GDP at 09.30, with a gain of 0.8% expected.
• We have a busy afternoon in North America, with US PPI, Canadian manufacturing sales and US Empire Sate Manufacturing at 13.30. These items are followed by TIC long term purchases at 14.00, with capacity utilisation rate at 14.15 and industrial production at 14.15.
Trade Idea:
• It’s hard ignore the strength of the Australian dollar, especially in context of poor Chinese data this week.
A good way to play this is a HIGHER trade predicting that the AUD/JPY will be above 95.75 in 5 days time for a potential return of 121%.
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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Summary:
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