Aussie GDP Boost

Morning Report: 06.30 London

• This morning, the Australian Dollar is riding high after impressive GDP figures which came in more than expected at +0.6%. The Aussie is rallying and testing the highs of the recent trading ranges.

• The NZD/USD is lagging however.

• Dollar pairs are generally mixed as the USD/JPY nudges higher again while the Dollar index slips lower.

• The Pound continues to hold its ground, while the Euro struggles, with the EUR/GBP continuing to slip from the highs.

Coming up today:

• Today we have Spanish unemployment change at 08.00.

• This is followed by UK construction PMI at 09.30. MPC member broadbent then speaks at 10.00., followed by member Cunliffe speaking at 14.00.

• UK manufacturing PMI is released at 09.30.

• US crude oil inventories are released at 15.30.

Trade Idea:

• The Euro’s steady drip lower all but erases the February pop higher. The January lows are so far remained untroubled however, so there could be further downside to come.
                      

A good way to play this is a ONE TOUCH trade predicting that the EUR/USD will touch 1.0650 within 14 days for a potential return of 114%.

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