Aussie leads as markets regain highs

Morning Report: 08.45 London

• The Australian dollar is pushing higher this morning, leading markets upwards as the S&P 500 made a new intra-day high yesterday.                                                                                                              

                               
                                                                                                                                     
• The AUD/USD is up 0.50%, with the AUD/JPY is up 0.43% after inflation came in as expected.

                               

• Elsewhere the NZD/USD is bouncing off support, though some way behind the strength shown by the NZD/USD.

• The dollar index continues to ride higher, well above the moving average. This dollar strength is in part due to the euro’s losses yesterday and continued weakness this morning. The EUR/JPY is off by another -0.10%.
                              
                               
                               
                               

Coming up today:

• Coming up today, we have the release of the latest voting decisions from the last MPC meeting at 09.30. No significant changes are expected. Governor Carney speaks at 12.45.

• Then at 13.30, we have Canadian core retail sales, followed by US crude oil inventories at 15.30.


Trade Idea:

• The EUR/GBP is under pressure again and a break of support here could see further downside.

                               

A LOWER trade predicting that the EUR/GBP will close below 0.7875 in 7 days time could return 117%

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Summary: