• This morning, the Dollar index is on the back foot, furthering yesterday’s gains after the US federal reserve signalled a slowing of the rate cut cycle.
• The Yen has capitalised on the move, driving the USD/JPY lower, towards the lower rung of the trading range.
• Dollar pairs are generally on the rise, especially the AUD/USD and EUR/USD.
• The notable exception is the British Pound which is lagging after the UK Chancellor Osborne warned of tricky times ahead. The EUR/GBP extended its winning run as a result.
Coming up today:
• Coming up today we have the Swiss rate decision, with no change expected.
• European CPI follows at 10.00.
• We have further central bank action at 12.00, with the MOC statement. Again, no change is expected.
• Following this we have Philly Fed manufacturing index, unemployment claims and current account released alongside Canadian wholesale sales at 12.30.
• We then get JOLTS job openings at 14.00.
Trade Idea:
• The Australian Dollar is enjoying a general strengthening in commodity prices, while the Pound has been pressured by hints of weakness in the UK economy.
• The GBP/AUD has been a consistent loser of late and this could be a trend worth riding.
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. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
UK Budget Blues
Morning Report: 06.30 London
• This morning, the Dollar index is on the back foot, furthering yesterday’s gains after the US federal reserve signalled a slowing of the rate cut cycle.
• The Yen has capitalised on the move, driving the USD/JPY lower, towards the lower rung of the trading range.
• Dollar pairs are generally on the rise, especially the AUD/USD and EUR/USD.
• The notable exception is the British Pound which is lagging after the UK Chancellor Osborne warned of tricky times ahead. The EUR/GBP extended its winning run as a result.
Coming up today:
• Coming up today we have the Swiss rate decision, with no change expected.
• European CPI follows at 10.00.
• We have further central bank action at 12.00, with the MOC statement. Again, no change is expected.
• Following this we have Philly Fed manufacturing index, unemployment claims and current account released alongside Canadian wholesale sales at 12.30.
• We then get JOLTS job openings at 14.00.
Trade Idea:
• The Australian Dollar is enjoying a general strengthening in commodity prices, while the Pound has been pressured by hints of weakness in the UK economy.
• The GBP/AUD has been a consistent loser of late and this could be a trend worth riding.
A good way to play this is a LOWER trade predicting that the GBP/AUD will close below 1.8500 in 14 days for a potential return of 180%.
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. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
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