Aussie hits reverse on trade balance miss

Morning Report: 08.45 London

• The Australian dollar is the big mover today, reversing yesterday’s gains after trade balance data came in much worse than expected. The AUD/USD is off by 0.33%, with the AUD/JPY down by 0.41%.
 

• The yen pairs are seeing some weakness as the USD/JPY gets back into its down trend.

                               

• The EUR/GBP also looks to be testing the lower part of its trading range as the pound continues to strengthen.

                               
                            
Coming up today:

• Coming up today we have UK construction PMI at 09.30,

• This is followed by US ADP non farm payrolls at 13.15 and Fed Chair Yellen speaking at 16.00

Trade Idea:

• The US dollar’s down trend is looking fairly secure and this could mean more downside for the USD/JPY.

                               

A good way to play this is a LOWER trade predicting that the USD/JPY will close below 101.25 in 6 days time for a potential return of 174%.

This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. 

Summary: