• This morning, the Australian dollar is the big mover after China acted to loosen monetary policy further by scrapping repo sales. The move has pushed the AUD/USD higher by 0.74%, the AUD/JPY by 0.57% and the NZD/USD up 0.48%.
• Elsewhere, markets are quite, with the yen pairs generally backing off and the USD/JPY set for three straight down sessions for the first time in months.
• Gold and silver are also backing off.
• The yen pair movement is in part fuelled by the dollar index continuing to stagnate at the highs. The S&P 500 also has a negative bias.
Coming up today: • Coming up today we have German unemployment change at 08.55. This is followed by European M3 money supply and private loans at 09.00.
• ECB president Draghi is probably the day’s big ticket with his speech at 11.30.
• It could be a quiet day overall though owing to the US Thanksgiving celebrations.
Trade Idea:
• The Aussie has recovered well these last couple of days and there could be further upside for the AUD/JPY if/when the Japanese yen reverses this little rally.
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.
Aussie Rallies As China Loosens
Morning Report: 08.30 London
• This morning, the Australian dollar is the big mover after China acted to loosen monetary policy further by scrapping repo sales. The move has pushed the AUD/USD higher by 0.74%, the AUD/JPY by 0.57% and the NZD/USD up 0.48%.
• Elsewhere, markets are quite, with the yen pairs generally backing off and the USD/JPY set for three straight down sessions for the first time in months.
• Gold and silver are also backing off.
• The yen pair movement is in part fuelled by the dollar index continuing to stagnate at the highs. The S&P 500 also has a negative bias.
Coming up today:
• Coming up today we have German unemployment change at 08.55. This is followed by European M3 money supply and private loans at 09.00.
• ECB president Draghi is probably the day’s big ticket with his speech at 11.30.
• It could be a quiet day overall though owing to the US Thanksgiving celebrations.
Trade Idea:
• The Aussie has recovered well these last couple of days and there could be further upside for the AUD/JPY if/when the Japanese yen reverses this little rally.
A good way to play this is a HIGHER trade predicting that the AUD/JPY will close above 101.50 in 8 days time for a potential return of 169%.
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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