China On Message For Aussie Rally

Morning Report: 08.45 London

• This morning, the Australian dollar is leading currencies higher after Chinese economic data came in as expected. In addition, there were no surprises in the RBA rate statement, helping the AUD/JPY to rally 0.42% so far and the AUD/USD 0.26%.
 

• Markets are generally upbeat, helped by China apparently getting back on track. The dollar index is still accelerating its down move.

                               

• Elsewhere, gold is off the boil (slightly) after pushing higher yesterday.

                               

• The yen pairs are pushing higher after Japanese data implied companies were planning to increase spending.

                                

                               
                             
Coming up today:

• Coming up today we have UK Manufacturing PMI at 09.30, with a slight drop expected.

• At 10.00 we get the latest pan European unemployment rate.

• Treasury secretary Lew Speaks at 13.00, followed by US ISM manufacturing at 15.00.

Trade Idea:

• The dollar index continues to slip slide lower, a move that is giving all dollar pairs some upside potential.

                               

A good way to play this is a HIGHER trade predicting that the AUD/USD will close above 0.9500 in 6 days time for a potential return of 224%.

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

Summary: