• Overnight Chinese officials injected liquidity into their stressed system, relieving some pressure, but the Australian and New Zealand dollars are still falling this morning. This comes after comments from the RBA governor that implied that the Aussie was on the watch list for a rate cut.
• It’s gold that’s the biggest fallers this morning though, dropping by 0.45% in early trading.
• Elsewhere, the British pound is under pressure with the GBP/ JPY down 0.36% and the EUR/ GBP off by 0.2%.
Coming up today:
• Coming up today, we have UK net lending to individuals at 09.30.
• From 12.20 we have a large chunk of US data, with core retail sales and PPI. The S&P/CS HPU follows at 13.00, with the CB consumer confidence data at 14.00.
Trade Idea:
• This morning’s EUR/ GBP strength builds on the recent up trend, but looking out further on the weekly chart, we can see that the pairs has largely been range bound for most of 2013. The recent bull run has merely put the pair back right in the middle of this range.
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.
China relieves concerns, but Aussie still dips
Morning Report: 08.45 London
• Overnight Chinese officials injected liquidity into their stressed system, relieving some pressure, but the Australian and New Zealand dollars are still falling this morning. This comes after comments from the RBA governor that implied that the Aussie was on the watch list for a rate cut.
• It’s gold that’s the biggest fallers this morning though, dropping by 0.45% in early trading.
• Elsewhere, the British pound is under pressure with the GBP/ JPY down 0.36% and the EUR/ GBP off by 0.2%.
Coming up today:
• Coming up today, we have UK net lending to individuals at 09.30.
• From 12.20 we have a large chunk of US data, with core retail sales and PPI. The S&P/CS HPU follows at 13.00, with the CB consumer confidence data at 14.00.
Trade Idea:
• This morning’s EUR/ GBP strength builds on the recent up trend, but looking out further on the weekly chart, we can see that the pairs has largely been range bound for most of 2013. The recent bull run has merely put the pair back right in the middle of this range.
• A good way to play this is an IN/ OUT trade predicting that the EUR/ GBP stays between 0.3750 and 0.87500 until December 31st 2013. This could return 133% 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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