• This morning, the dollar index continues to dominate following yesterday’s surge on the back of economic data. US advance GDP came in well above estimates, while the US continued their tapering operations as widely expected. This paints an improved picture of the US economy, with rate rises slowly but surely appearing on the horizon.
• The dollar index pushed higher on the news, while the S&P 500 continued to back and fill.
• The Australian dollar is the big loser again today on the back of worse than expected import prizes & building approvals data. The NZD/USD is showing some fight however.
• The yen continues to suffer, with a big spike in the USD/JPY yesterday as money flowed into the dollar.
Coming up today:
• Today we have European CPI flash estimate at 10.00, followed by the latest unemployment rate.
• This is followed by Canadian GDP at 13.30 and the latest US unemployment claims.
• Chicago PMI follows at 14.45.
Trade Idea:
• Volatility could spike in the aftermath of tomorrow’s Non Farm Payrolls and this could translate into a pop higher for the USD/JPY.
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.
GDP Sends Dollar To Highs
Morning Report: 09.00 London
• This morning, the dollar index continues to dominate following yesterday’s surge on the back of economic data. US advance GDP came in well above estimates, while the US continued their tapering operations as widely expected. This paints an improved picture of the US economy, with rate rises slowly but surely appearing on the horizon.
• The dollar index pushed higher on the news, while the S&P 500 continued to back and fill.
• The Australian dollar is the big loser again today on the back of worse than expected import prizes & building approvals data. The NZD/USD is showing some fight however.
• The yen continues to suffer, with a big spike in the USD/JPY yesterday as money flowed into the dollar.
Coming up today:
• Today we have European CPI flash estimate at 10.00, followed by the latest unemployment rate.
• This is followed by Canadian GDP at 13.30 and the latest US unemployment claims.
• Chicago PMI follows at 14.45.
Trade Idea:
• Volatility could spike in the aftermath of tomorrow’s Non Farm Payrolls and this could translate into a pop higher for the USD/JPY.
A good way to play this is a ONE TOUCH trade predicting that the USD/JPY will TOUCH 103.75 before the close on Friday night. This could return 165% 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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