Market Eyes US GDP

Morning Report: 06.30 London

• Markets are relatively quiet this morning as traders assess the consequence of oil prices breaking (and falling back from) $50 yesterday. Adding to the caution, we have US GDP data to contend with later. The US dollar is quiet so far, with the USD/JPY also making small gains.

• Elsewhere, gold continues to suffer.

• While the euro nudges higher following two days of losses.

                     
                                                                                                                                                                                                                                                                                                                                                     
Coming up today:

• Coming up today we have US preliminary GDP data at 13.40, followed revised UoM consumer sentiment at 15.00.

• Fed chair yellen then speaks at 18.15.

Trade Idea:

• It says something of the relative weakness still endured by the Australian dollar that the GBP/AUD so consistently while the pound faces Brexit uncertainty.

                     

There could be further upside from here over coming weeks too and a good way to play this is a HIGHER trade predicting that the GBP/AUD closes above 2.0400 in 14 days for a potential return of 120%.

                          
                                                         

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