Markets Slip On European Data

Morning Report: 08:45 London

• Currency markets are mixed this morning after UK and European data came in below estimates. UK inflation and PPI came in well below estimates, while German ZEW sentiment also sank more than anticipated. The euro and pound are lower, but the damage could have been worse.                                             

• The big mover is the Australian dollar after the latest RBA minutes implied a rate hike was pushed further into the future.

                             
                                                                                                                                                       
                              

• Gold is also struggling despite the ongoing conflict in Iraq.

                             
                             

Coming up today:

• Coming up today at 13.30, we have US building permits and CPI data.

Trade Idea:

• The NZD/USD continues to hold up well despite the pressure on the Aussie today and could see further upside from here.

                             

A HIGHER trade predicting that the NZD/USD closes above 0.8700 in 3 days time could return 163% if successful.

This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. 

Summary: