Chance Of Aussie Rate Hike Slips

Morning Report: 08:30 London

• This morning, the Australian dollar is facing isolated pressure after CPI levels came in well below estimates, thus lessening the probability of a rate hike in the near future. The Aussie pairs are down over 1% on a day that other pairs are generally unchanged and stock markets are lifeless.
         

                                                                                                                                                                                                                                  

• The NZD/USD off by around 0.30% in sympathy.

• The British pound is also struggling this morning ahead of the release of voting patterns for the last MPC meeting.

                             

Coming up today:

• Coming up today we have UK voting patterns for the MPC bank rate and asset purchase program at 09.30. Public sector net borrowing is released at the same time.

• From 13.30, we switch to North America with Canadian core retail sales followed by US flash manufacturing PMI and US new home sales.

Trade Idea:

• The GBP/JPY is pulling back heavily from the highs and after two failed attempts at these levels in the last two months, we could see some further downside from here.

                                

A LOWER trade predicting that the GBP/JPY will close below 172.00 in 2 days time could return 134% if successful.

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

Summary: