• Yesterday, there were a few puzzled faces as markets ‘melted’ up on disappointing Non Farm Payrolls. This morning reality has crept in with markets on the back foot, a move further fuelled by China concerns.
• The Antipodean currencies of the Australian and New Zealand dollars have been hardest hit, on reports that Chinese money back rates are soaring. The NZD/ USD is off 1.32%, with the AUD/ JPY down 1.28%.
• The yen pairs are generally under pressure, with the USD/ JPY off by 0.65%.
• The pound is weak ahead of the morning’s MPC statement.
Coming up today:
• We have the latest rate statement from the MPC at 09.30, followed by the Canadian rate statement at 15.00.
• US import prices are released at 13.30.
Trade Idea:
• While yesterday’s rally could be viewed as something of an over reaction, the same could be said for this morning’s sell off. We could see some short term volatility in the coming days, which leaves the door open for a return to higher levels (albeit briefly).
This Daily Market Report is written by Dave Evans, Professional Trader. This is presented as an idea to stimulate binary option trading ideas and is not a financial advice.
Markets slip after NFP melt up
Morning Report: 08.45 London
• Yesterday, there were a few puzzled faces as markets ‘melted’ up on disappointing Non Farm Payrolls. This morning reality has crept in with markets on the back foot, a move further fuelled by China concerns.
• The Antipodean currencies of the Australian and New Zealand dollars have been hardest hit, on reports that Chinese money back rates are soaring. The NZD/ USD is off 1.32%, with the AUD/ JPY down 1.28%.
• The yen pairs are generally under pressure, with the USD/ JPY off by 0.65%.
• The pound is weak ahead of the morning’s MPC statement.
Coming up today:
• We have the latest rate statement from the MPC at 09.30, followed by the Canadian rate statement at 15.00.
• US import prices are released at 13.30.
Trade Idea:
• While yesterday’s rally could be viewed as something of an over reaction, the same could be said for this morning’s sell off. We could see some short term volatility in the coming days, which leaves the door open for a return to higher levels (albeit briefly).
A ONE TOUCH trade predicting that the AUD/ JPY would TOUCH 95.00 in the next 2 days could return 145% if successful.
This Daily Market Report is written by Dave Evans, Professional Trader. This is presented as an idea to stimulate binary option trading ideas and is not a financial advice.
Summary:
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