• This morning, China has continued to lead global stock market rout with another round of sharp sell-offs across Asia. The benchmark Shanghai Composite is down another 8.5%, putting the index in the red for the year. Western markets are following suit with the S&P 500 futures indicating an open in the region of 1920.
• The currencies with the greatest exposure to China are falling hardest, with the AUD/JPY down 1.92%, the NZD/USD down 1.36% and the AUD/USD 1.13%.
• The dollar index is still not picking up the slack and it seems to that it’s the yen not the dollar that investors turn to when things get hairy.
• The yen pairs are dropping lower, with the USD/JPY off by 0.82%.
• The euro is striving however with further gains this morning.
Coming up today:
• We’ve a quiet day from planned economic release perspective, with FOMC member Lockhart speaking as the only item of note.
Trade Idea:
• The Australian dollar has been hit hard of late and with no end in sight for China’s woes, there could be more downside ahead especially against the yen.
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. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
China Lead Equity Rout
Morning Report: 07.00 London
• This morning, China has continued to lead global stock market rout with another round of sharp sell-offs across Asia. The benchmark Shanghai Composite is down another 8.5%, putting the index in the red for the year. Western markets are following suit with the S&P 500 futures indicating an open in the region of 1920.
• The currencies with the greatest exposure to China are falling hardest, with the AUD/JPY down 1.92%, the NZD/USD down 1.36% and the AUD/USD 1.13%.
• The dollar index is still not picking up the slack and it seems to that it’s the yen not the dollar that investors turn to when things get hairy.
• The yen pairs are dropping lower, with the USD/JPY off by 0.82%.
• The euro is striving however with further gains this morning.
Coming up today:
• We’ve a quiet day from planned economic release perspective, with FOMC member Lockhart speaking as the only item of note.
Trade Idea:
• The Australian dollar has been hit hard of late and with no end in sight for China’s woes, there could be more downside ahead especially against the yen.
A good way to play this is a LOWER trade predicting that the AUD/JPY TOUCHES 85.00 at some point in the next 10 days for a potential return of 181%.
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. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
Summary:
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