China Manufacturing Boost 

Morning Report: 08:30 London

• This morning, markets are on the rise after Chinese flash manufacturing rose to its highest level in five months – more than analysts estimated. This has put the wind in the sails for the Australian dollar after a period of selling.         

• The S&P 500 is also showing some early promise after a strong showing yesterday.
                                                                                                                                           

• Elsewhere, the euro continues to struggle against the strong momentum displayed by the British pound. The pound was boosted yesterday after Bank of England minutes suggested some members were ready to move towards a rate hike earlier than expected.

                                                        
                             

• Commodities are on the rise, though are generally still range bound, with silver up 0.72%.

                             
                                                                                                                                                        
Coming up today:

• Coming up today we have European flash PMI, released after below par German manufacturing PMO.

• Following this we have a raft of UK data points including UK second estimate GDP at 09.30, prelim business investment and public sector net borrowing. CBI industrial order expectations follow at 11.00.

• From 13.30 we have Canadian core retail sales and US unemployment claims.

Trade Idea:

• The euro continues to drift lower an inertia drifts across the eurozone. Economic data continues to disappoint and without serious reforms, the region could slowly drift back into crisis.

                             

A good way to play this is a LOWER trade predicting that the EUR/USD closes BELOW 1.3650 in 14 days time for a potential return of 137%.

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

Summary: