• This morning, the Australian dollar is on the rise after the release of the minutes from the last RBA meeting which indicated that a rate cut was not imminent. The AUD/USD is up 0.43%, with the NZD/USD riding on its coat tails, up 0.35%.
• The weak dollar index is certainly helping these moves as well as applying downside pressure to the USD/JPY which is down 0.24%
• The other major yen pairs are down 0.18% with the exception of the AUD/JPY which is bucking this trend up 0.21%.
Coming up today:
• First up today we have the UK in focus from 09.30, with CPI expected to drop to 2.6% and RPI to 3.2%. At the same time PPI input is expected to register a 0.1% loss.
• German and European ZEW economic sentiment follows at 10.00.
• From 13.30 we switch to North America with the latest Empire State Manufacturing Index.
Trade Idea:
• The USD/CAD has been dropping through the last few sessions and is heading back towards the 1.0300 support level. Quite what will happen at this point is unclear, but with the dollar weakening on debt negotiation progress, there’s every chance the USD/CAD will be draw lower a like a magnet.
This Daily Market Report is written by Dave Evans, Professional Trader. This is presented as an idea to stimulate binary option trading ideas and is not a financial advice.
Aussie boost on rate outlook
Morning Report: 08.45 London
• This morning, the Australian dollar is on the rise after the release of the minutes from the last RBA meeting which indicated that a rate cut was not imminent. The AUD/USD is up 0.43%, with the NZD/USD riding on its coat tails, up 0.35%.
• The weak dollar index is certainly helping these moves as well as applying downside pressure to the USD/JPY which is down 0.24%
• The other major yen pairs are down 0.18% with the exception of the AUD/JPY which is bucking this trend up 0.21%.
Coming up today:
• First up today we have the UK in focus from 09.30, with CPI expected to drop to 2.6% and RPI to 3.2%. At the same time PPI input is expected to register a 0.1% loss.
• German and European ZEW economic sentiment follows at 10.00.
• From 13.30 we switch to North America with the latest Empire State Manufacturing Index.
Trade Idea:
• The USD/CAD has been dropping through the last few sessions and is heading back towards the 1.0300 support level. Quite what will happen at this point is unclear, but with the dollar weakening on debt negotiation progress, there’s every chance the USD/CAD will be draw lower a like a magnet.
A LOWER trade predicting that the USD/CAD will TOUCH 1.02950 in the next 1 day, could return 118% if successful.
This Daily Market Report is written by Dave Evans, Professional Trader. This is presented as an idea to stimulate binary option trading ideas and is not a financial advice.
Summary:
Email [email protected] or skype me at bomaffiliates-karen
Related Posts: