• This morning, the Australian and New Zealand dollars are performing well following better than expected Aussie date overnight and the RBNZ keeping rates on hold. Japanese equities were boosted by the BOJ report which held no surprises. Things are different in Europe however as traders wait to see if there is further reaction from last night’s less then dovish Fed statement. In addition, early German economic data has come come in below estimates.
• The AUD/ USD and NZD/ USD are up 0.42% and 0.25% respectively, while the USD/ JPY is down 0.25% as confidence returns to Japan.
•Elsewhere, gold continues to fall back as the dollar index continues to recover.
• The euro is also under performing the pound, thanks to better than expected UK housing data.
Coming up today:
• Coming up today at 10.00 we have European CPI flash estimate and the latest unemployment rate.
• From 12.00 we switch to the US for GDP data and unemployment claims.
Trade Idea:
• The recent stock market rally still looks a tad over stretched, which could mean more downside for the highly correlated EUR/ JPY.
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.
Asian leads but Europe cautious
Morning Report: 08.45 London
• This morning, the Australian and New Zealand dollars are performing well following better than expected Aussie date overnight and the RBNZ keeping rates on hold. Japanese equities were boosted by the BOJ report which held no surprises. Things are different in Europe however as traders wait to see if there is further reaction from last night’s less then dovish Fed statement. In addition, early German economic data has come come in below estimates.
• The AUD/ USD and NZD/ USD are up 0.42% and 0.25% respectively, while the USD/ JPY is down 0.25% as confidence returns to Japan.
• Elsewhere, gold continues to fall back as the dollar index continues to recover.
• The euro is also under performing the pound, thanks to better than expected UK housing data.
Coming up today:
• Coming up today at 10.00 we have European CPI flash estimate and the latest unemployment rate.
• From 12.00 we switch to the US for GDP data and unemployment claims.
Trade Idea:
• The recent stock market rally still looks a tad over stretched, which could mean more downside for the highly correlated EUR/ JPY.
• A LOWER trade predicting that the EUR/ JPY will close below 134.25 in 7 days time could return 148% if successful.
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.
Summary:
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