• This morning, the euro remains on simmer as the latest moves and counter moves play out between Greece and creditors.
• The big mover this morning is the Australian dollar after ‘good enough’ Chinese data and better than expected Australian building approvals data.
• The NZD/USD is climbing back against recent losses as a consequence.
• Elsewhere, the Britsh pound continues to out perform, with the GBP/JPY attempting to close Monday’s opening gap lower.
• There are big gains for the pound against the Canadian dollar after Canada posted negative GDP for the second straight quarter (and marking the third straight quarter without growth). The USD/CAD is also on the rise.
• The dollar index is flat so far this morning, while the S&P continues to struggle beneath the 200 period moving average.
Coming up today:
• Coming up today we have UK manufacturing PMI released at 09.30, followed by the release of the BOE financial stability report at 10.30.
• US ADP non farm employment change is the main highlight of the day at 13.15. ISM manufacturing PMI follows at 15.00.
• Eurogroup meetings run throughout the day.
Trade Idea:
The GBP/CAD continues to climb after yesterday’s disappointing GDP figures and there could be further upside to come as Canada struggles without oil revenues.
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.
Aussie Rallies as Euro Stews
Morning Report: 07.30 London
• This morning, the euro remains on simmer as the latest moves and counter moves play out between Greece and creditors.
• The big mover this morning is the Australian dollar after ‘good enough’ Chinese data and better than expected Australian building approvals data.
• The NZD/USD is climbing back against recent losses as a consequence.
• Elsewhere, the Britsh pound continues to out perform, with the GBP/JPY attempting to close Monday’s opening gap lower.
• There are big gains for the pound against the Canadian dollar after Canada posted negative GDP for the second straight quarter (and marking the third straight quarter without growth). The USD/CAD is also on the rise.
• The dollar index is flat so far this morning, while the S&P continues to struggle beneath the 200 period moving average.
Coming up today:
• Coming up today we have UK manufacturing PMI released at 09.30, followed by the release of the BOE financial stability report at 10.30.
• US ADP non farm employment change is the main highlight of the day at 13.15. ISM manufacturing PMI follows at 15.00.
• Eurogroup meetings run throughout the day.
Trade Idea:
The GBP/CAD continues to climb after yesterday’s disappointing GDP figures and there could be further upside to come as Canada struggles without oil revenues.
A good way to play this is a HIGHER trade predicting that the GBP/CAD will close above 1.9800 in 19 days time for a potential return of 177%.
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.
Summary:
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