• The pull back from the September high intensified yesterday as traders positioned themselves for a global slow down. The US was at the centre of this after a slew of poor economic data points hit financial markets and the dollar index. Both the dollar and the S&P 500 are steady this morning though, with the S&P 500 travelling some way off the lows yesterday.
• The yen pairs are seeing the biggest pressure this morning as traders seek out the safety of the Japanese yen. The move extends the recent down run on the GBP/JPY.
• Dollar pairs are also on the back foot, especially the AUD/USD and NZD/USD on fears that China’s growth advance at a slower pace than anticipated.
• The euro is under particular pressure after out performing yesterday.
Coming up today:
• Coming up today we have final European CPI data at 10.00.
• This is followed by US unemployment claims at 13.30, released alongside Canadian manufacturing sales.
• At 14.15 we have industrial production, followed by the Philly Fed Manufacturing Index at 15.00 Trade Idea:
• The AUD/JPY has been volatile of late and selling off again this morning.
• There is a sense though that the recent stock market slide may have over extended itself, which could spark a short term relief rally.
Markets Steady After Global Slide
Morning Report: 09.00 London
• The pull back from the September high intensified yesterday as traders positioned themselves for a global slow down. The US was at the centre of this after a slew of poor economic data points hit financial markets and the dollar index. Both the dollar and the S&P 500 are steady this morning though, with the S&P 500 travelling some way off the lows yesterday.
• The yen pairs are seeing the biggest pressure this morning as traders seek out the safety of the Japanese yen. The move extends the recent down run on the GBP/JPY.
• Dollar pairs are also on the back foot, especially the AUD/USD and NZD/USD on fears that China’s growth advance at a slower pace than anticipated.
• The euro is under particular pressure after out performing yesterday.
Coming up today:
• Coming up today we have final European CPI data at 10.00.
• This is followed by US unemployment claims at 13.30, released alongside Canadian manufacturing sales.
• At 14.15 we have industrial production, followed by the Philly Fed Manufacturing Index at 15.00
Trade Idea:
• The AUD/JPY has been volatile of late and selling off again this morning.
• There is a sense though that the recent stock market slide may have over extended itself, which could spark a short term relief rally.
A good way to play this is a ONE TOUCH trade predicting that the AUD/JPY will TOUCH 94.00 at some point before the close on the 21st (5 days). This would return 179% if successful.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
Summary:
Email [email protected] or skype me at bomaffiliates-karen
Related Posts: