• Markets are strangely unmoved this morning despite better than expected Chinese data in the early hours. The S&P 500 is nudging higher, but not by a significant amount.
• The Australian dollar, normally highly sensitive to the moods of China is in fact trading lower so far, with the NZD/USD suffering due to worse than expected CPI data.
• By contrast, the dollar index is still in favour with traders, helping to drive the main dollar pairs and commodities lower. Both gold and silver are nudging higher today, but the damage was done yesterday by a dollar surge.
• Elsewhere, the British pound is holding yesterday’s gains against the euro following higher than expected inflation data.
Coming up today:
• Coming up today we have UK average earnings index, claimant count change and the latest unemployment rate figures.
• From 13.30, we switch to North America with the release of Canadian manufacturing sales, US PPI, followed by US capacity utilisation and industrial production at 14.15.
• Following this we focus on Canada with the latest BOC monetary policy report and statement (no changed expected).
• Fed chair Yellen testifies at 15.00.
Trade Idea:
• The AUD/USD is displaying some strange weakness this morning, but the pair has bounced off the 0.9325 level which has been acting as support of late.
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 Unmoved By China Data
Morning Report: 08.15 London
• Markets are strangely unmoved this morning despite better than expected Chinese data in the early hours. The S&P 500 is nudging higher, but not by a significant amount.
• The Australian dollar, normally highly sensitive to the moods of China is in fact trading lower so far, with the NZD/USD suffering due to worse than expected CPI data.
• By contrast, the dollar index is still in favour with traders, helping to drive the main dollar pairs and commodities lower. Both gold and silver are nudging higher today, but the damage was done yesterday by a dollar surge.
• Elsewhere, the British pound is holding yesterday’s gains against the euro following higher than expected inflation data.
Coming up today:
• Coming up today we have UK average earnings index, claimant count change and the latest unemployment rate figures.
• From 13.30, we switch to North America with the release of Canadian manufacturing sales, US PPI, followed by US capacity utilisation and industrial production at 14.15.
• Following this we focus on Canada with the latest BOC monetary policy report and statement (no changed expected).
• Fed chair Yellen testifies at 15.00.
Trade Idea:
• The AUD/USD is displaying some strange weakness this morning, but the pair has bounced off the 0.9325 level which has been acting as support of late.
There could be some upside from here and a HIGHER trade predicting that the AUD/USD closes above 0.9375 in 1 days time could return 176% if successful.
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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