Kiwi Flying High

Morning Report: 06.30 London

• This morning, the top performing currency is the New Zealand Dollar as the Australian Dollar backs away and the US Dollar retreats. NZ trade balance came in much stronger than expected last night.

• The Australian Dollar is struggling however, with the AUD/JPY slipping back but maintaining still pushing to break through the recent range.

• The Dollar index is slipping back again with the USD/JPY pushing back further.

• The USD/CAD is also notable for its gains made over the last 24 hours as oil prices continue to recover.

• Meanwhile, the Pound and Euro are on the advance, helped by the Dollar backing off.

Coming up today:

• Coming up today we have Spanish flash CPI at 08.00.

• This is followed by US preliminary GDP at 13.30, followed by core PCE price index, trade goods balance and personal spending.

• Following this we have revised UoM consumer sentiment.

Trade Idea:

• The NZD/USD has been lagging its Australian cousin, but this morning’s push could see a sustained move higher.
                      

A good way to play this is a HIGHER trade predicting that the NZD/ USD will close above 0.6850 in 21 days for a potential return of 176%.

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