• We’ve had some early volatility this morning as Chinese GDP came in just above forecasts to general relief across Asia. The data hasn’t quite translated into a bullish start to the day for US and European equities, but it has given the Australian dollar some positive momentum.
• The AUD/JPY dipped to just above 91.00 in the early hours, only to recover well, while the AUD/USD is up 0.21%.
• The rest of the market is struggling however, with the NZD/USD off by 0.17%.
• The yen pairs are also on the back foot, with the USD/JPY off by 0.16%.
Coming up today:
• Coming up today, we have the German Buba report at 11.00.
• Trading volatility could be stifled though with markets closed for Martin Luther Kind Day.
Trade Idea:
• The AUD/USD is out performing the rest of the market, but in this case, it could be a chance to reload on short bets. This morning’s Chinese GDP data was positive, but Chinese data sometimes has to be taken with a pinch of salt. Australia’s old data has been less sanguine in recent months.
This Daily Market Report is written by Dave Evans, Professional Trader. This is presented as an idea to stimulate binary option trading ideas and is not a financial advice.
China GDP relief
Morning Report: 08.30 London
• We’ve had some early volatility this morning as Chinese GDP came in just above forecasts to general relief across Asia. The data hasn’t quite translated into a bullish start to the day for US and European equities, but it has given the Australian dollar some positive momentum.
• The AUD/JPY dipped to just above 91.00 in the early hours, only to recover well, while the AUD/USD is up 0.21%.
• The yen pairs are also on the back foot, with the USD/JPY off by 0.16%.
Coming up today:
• Coming up today, we have the German Buba report at 11.00.
• Trading volatility could be stifled though with markets closed for Martin Luther Kind Day.
Trade Idea:
• The AUD/USD is out performing the rest of the market, but in this case, it could be a chance to reload on short bets. This morning’s Chinese GDP data was positive, but Chinese data sometimes has to be taken with a pinch of salt. Australia’s old data has been less sanguine in recent months.
A Lower trade predicting that the AUD/USD closes below 0.8750 in 7 days time could return 165% if successful.
This Daily Market Report is written by Dave Evans, Professional Trader. This is presented as an idea to stimulate binary option trading ideas and is not a financial advice.
Summary:
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