• This morning, markets continue to shrug off ongoing geopolitical tensions, keeping the S&P 500 within touching distance of record highs. At the same time, the dollar index is well above trend, pushing for its highest levels since the start of June.
• This dollar strength is putting pressure on commodities, with gold and silver down 0.47% and 0.33% this morning.
• The Australian dollar is the standout performer overall though following RBA governor Stevens’ speech in the early hours of the morning. The AUD/JPY is up 0.29%, with the AUD/USD down 0.22%.
• Coming up today, we have UK public sector net borrowing at 09.30, with a drop in borrowing expected. CBI industrial order expectations follow at 11:00.
• From 13.30, we switch to the US with core CPI at 13.30. This is followed by existing home sales at 15.00.
Trade Idea:
• While the Australian dollar is performing well today, the Kiwi is suffering. This under performance is notable on a day when its close neighbour is strong. This hints at underlying weakness, with a LOWER trade a good way to play this.
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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Markets Advance Despite Tensions
Morning Report: 08.15 London
• This morning, markets continue to shrug off ongoing geopolitical tensions, keeping the S&P 500 within touching distance of record highs. At the same time, the dollar index is well above trend, pushing for its highest levels since the start of June.
• This dollar strength is putting pressure on commodities, with gold and silver down 0.47% and 0.33% this morning.
• The Australian dollar is the standout performer overall though following RBA governor Stevens’ speech in the early hours of the morning. The AUD/JPY is up 0.29%, with the AUD/USD down 0.22%.
Coming up today:
• Coming up today, we have UK public sector net borrowing at 09.30, with a drop in borrowing expected. CBI industrial order expectations follow at 11:00.
• From 13.30, we switch to the US with core CPI at 13.30. This is followed by existing home sales at 15.00.
Trade Idea:
• While the Australian dollar is performing well today, the Kiwi is suffering. This under performance is notable on a day when its close neighbour is strong. This hints at underlying weakness, with a LOWER trade a good way to play this.
A HIGHER trade predicting that the NZD/USD will close below 0.8650 in 3 days could return of 140%.
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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Summary:
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