• Hopes are high for strong US jobs data in today’s ADP payrolls ahead of Friday’s Non Farm Payrolls. The US Dollar came under pressure these last two days, but is nudging higher again today with an ADP gain of 191k expected.
• The Aussie Dollar was the big winner yesterday and is holding its ground this morning after GDP came in above estimates. The NZD/USD is riding higher on its coat tails.
• The Euro enjoyed a positive session yesterday, but will have to go some way to arrest the current slide, with small losses this morning.
Coming up today:
• Coming up today we have Spanish unemployment change at 08.00.
• This is followed by UK construction PMI at 09.30.
• European CPI flash estimate then follows at 10.00.
• US ADP employment is the day’s main ticket at 13.15, with Fed chair Yellen speaking at 13.30, then again at 17.25.
• From 15.00, we have the Canadian rate statement with no change expected.
Trade Idea:
• The Aussie Dollar engine is turning over nicely as China continues to stabilise from its wobble and the possibility of a rate cut recedes.
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.
Dollar Readies For ADP Payrolls
Morning Report: 06.15 London
• Hopes are high for strong US jobs data in today’s ADP payrolls ahead of Friday’s Non Farm Payrolls. The US Dollar came under pressure these last two days, but is nudging higher again today with an ADP gain of 191k expected.
• The Aussie Dollar was the big winner yesterday and is holding its ground this morning after GDP came in above estimates. The NZD/USD is riding higher on its coat tails.
• The Euro enjoyed a positive session yesterday, but will have to go some way to arrest the current slide, with small losses this morning.
Coming up today:
• Coming up today we have Spanish unemployment change at 08.00.
• This is followed by UK construction PMI at 09.30.
• European CPI flash estimate then follows at 10.00.
• US ADP employment is the day’s main ticket at 13.15, with Fed chair Yellen speaking at 13.30, then again at 17.25.
• From 15.00, we have the Canadian rate statement with no change expected.
Trade Idea:
• The Aussie Dollar engine is turning over nicely as China continues to stabilise from its wobble and the possibility of a rate cut recedes.
A good way to play this is a HIGHER trade predicting that the AUD/USD will close above 0.7450 in 44 days for a potential return of 230%.
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.
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