Aussie shrinks on RBA Minutes 

Morning Report: 08:30 London

• This morning, the Australian dollar is peeling back after the release of the minutes from the last RBA meeting. These minutes appear to pour cold water on the idea of an imminent rate rise, with the AUD/JPY and AUD/USD forced down by 0.60%. The NZD/USD is also off by another 0.46%.         

                                                                                                                                                                          

                                                        
• Away from this activity, markets are relatively quiet with the S&P 500 pushing slightly higher.

                             

• The euro is coming in for further isolated pressure after German PPI came in well below estimates.

                             

                             
                                                                                                                                                        
Coming up today:

• Coming up today we have UK CPI and RPI figures released alongside the latest PPI data. Inflation is expected to tick back up in today’s figures.

• We’ve a relatively quiet afternoon with FOMC member Plosser and Dudley speaking as the main highlight.

Trade Idea:

• New Zealand now has the highest interest rates in the Western world, but may not last for long as its closest neighbour and trading partner Australia continues to struggle.

                             

As such, a LOWER trade predicting that the NZD/USD will close below 0.8550 in 3 days time could return 160% if successful.

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

Summary: