• With the exception of the Australasian pairs, it’s a quiet Monday to start the week, with the S&P 500 down slightly and the dollar index holding its powerful up trend.
• The New Zealand dollar is the big mover this morning as traders continued to build up bearish positions. This comes after New Zealand PM John Key implied that the Kiwi was over valued, making 0.6500 the ‘goldilocks level’ for the pair. It was also revealed that the RBNZ has been a net seller of the currency.
• The Australian dollar is catching the same cold, with both major Aussie pairs slipping lower.
• The USD/JPY continues to impress, largely thanks to the ever strong US dollar.
Coming up today:
• Coming up today we have German CPI at an as yet unspecified time.
• UK net lending to individuals figures are released at 09.30 alongside mortgage approvals.
• US personal spending and PCE price index data are released at 13,30, with pending home sales out at 15.00.
Trade Idea:
• The NZ weakness has been hard to ignore for some time and now the country’s PM has signed there may be even more downside to come with a price target of 0.6500. With the dollar index still riding high, there’s no benefit in fighting this trend.
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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains. Summary:
Kiwi Heads Down Under
Morning Report: 09.00 London
• With the exception of the Australasian pairs, it’s a quiet Monday to start the week, with the S&P 500 down slightly and the dollar index holding its powerful up trend.
• The New Zealand dollar is the big mover this morning as traders continued to build up bearish positions. This comes after New Zealand PM John Key implied that the Kiwi was over valued, making 0.6500 the ‘goldilocks level’ for the pair. It was also revealed that the RBNZ has been a net seller of the currency.
• The Australian dollar is catching the same cold, with both major Aussie pairs slipping lower.
• The USD/JPY continues to impress, largely thanks to the ever strong US dollar.
Coming up today:
• Coming up today we have German CPI at an as yet unspecified time.
• UK net lending to individuals figures are released at 09.30 alongside mortgage approvals.
• US personal spending and PCE price index data are released at 13,30, with pending home sales out at 15.00.
Trade Idea:
• The NZ weakness has been hard to ignore for some time and now the country’s PM has signed there may be even more downside to come with a price target of 0.6500. With the dollar index still riding high, there’s no benefit in fighting this trend.
A LOWER trade predicting that the NZD/USD will close below 0.7700 in 7 days time could return 163% if successful.
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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Summary:
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