Markets slip back on Aussie PPI

Morning Report: 08.45 London

• As a continuation of the recent trends in recent weeks, yesterday’s big moves are starting to peel back, led by the S&P 500 and AUD/JPY.

• The AUD/JPY is seeing the biggest falls following a disappointing set of PPI figures.

• The NZD/USD is sitting right on support as it continues its down trend.
 

• The yen pairs are generally under pressure, with the GBP/JPY down 0.48% and the EUR/JPY down 0.33%.

 • Precious metals are off the boil in line with gold down 0.33% and silver heading to $19.



Coming up today:

• Coming up today, we have European CPI flash estimates and the unemployment rate.

• From 13.30 we switch to North America, with Canadian GDP. At the same time we get Core PCE price index, the employment cost index & personal spending. Following this, we have Chicago PMI at 14.45 and revised UoM consumer sentiment.

Trade Idea:

• The NZD/USD under pressure this morning, heading right to support. However, given the jittery nature of markets right now, a rebound can’t be ruled out, especially as we head into the turn of the month effect.

A HIGHER trade predicting that the NZD/USD closes above 0.8200 in 3 days could return 176%.

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.

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