• This morning, markets are on the back foot on signs that global growth may still be struggling. In the early hours of the morning, Australian GDP grew much less than expected, while Spanish PMI saw its lowest rise for more than a year. Unsurprisingly, the dollar pairs are on the back foot, while the dollar index heads back towards the highs.
• The big mover is the AUD/USD, down 0.56%, with the AUD/JPY off by 0.48%. The NZD/USD is off 0.30% in sympathy.
• The EUR/USD is not far behind, down 0.32%.
• The USD/JPY is back up at the highs though as the dollar index reasserts its dominance.
• Gold is bucking the general trend for dollar pairs, but only in reaction to yesterday’s sell off.
• The S&P 500 is trading lower, but only slightly so.
Coming up today: • Coming up today we have UK services PMI at 09.30, but that main event for the UK is the Autumn statement due at 12.30.
• Then at 13.15 we switch to the US for the ADP Non Farm employment change data. Following this we get ISM non manufacturing PMI at 15.00. At the same time we have a Canadian rate statement, with no change expected.
• The US Biege book is a late market mover potentially at 19.00.
Trade Idea:
• The AUD/USD down trend is hard to ignore, especially as trends can run and run on this pair.
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.
Global Growth Prospects Diminish
Morning Report: 7.15 London
• This morning, markets are on the back foot on signs that global growth may still be struggling. In the early hours of the morning, Australian GDP grew much less than expected, while Spanish PMI saw its lowest rise for more than a year. Unsurprisingly, the dollar pairs are on the back foot, while the dollar index heads back towards the highs.
• The big mover is the AUD/USD, down 0.56%, with the AUD/JPY off by 0.48%. The NZD/USD is off 0.30% in sympathy.
• The EUR/USD is not far behind, down 0.32%.
• The USD/JPY is back up at the highs though as the dollar index reasserts its dominance.
• Gold is bucking the general trend for dollar pairs, but only in reaction to yesterday’s sell off.
• The S&P 500 is trading lower, but only slightly so.
Coming up today:
• Coming up today we have UK services PMI at 09.30, but that main event for the UK is the Autumn statement due at 12.30.
• Then at 13.15 we switch to the US for the ADP Non Farm employment change data. Following this we get ISM non manufacturing PMI at 15.00. At the same time we have a Canadian rate statement, with no change expected.
• The US Biege book is a late market mover potentially at 19.00.
Trade Idea:
• The AUD/USD down trend is hard to ignore, especially as trends can run and run on this pair.
A good way to play this is a LOWER trade predicting that the AUD/USD will close below 0.8375 in 5 days time for a potential return of 130%.
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.
Summary:
Email [email protected] or skype me at bomaffiliates-karen
Related Posts: