Morning Report: Aussie Slumps On Unexpected Rate Cut
Morning Report: 8.30 London
• This morning, the Australian dollar is the big mover after cutting rates to 2.25% form 2.50% in an unexpected move that matches the other commodity heavyweight Canada. The AUD/JPY is down -2.42%, with the AUD/USD off by 2.18%. The NZD/USD is also down in sympathy.
• The move has been good news for the US dollar which is heading back towards the highs, while the S&P 500 holds after Monday’s rally.
• Gold is on the rise as the precious metal continues to chop and change.
• The pound is continuing to under perform, with the EUR/GBP rising again and the GBP/JPY slipping to challenge the lows.
Coming up today: • Coming up today we have UK construction PMI at 09.30.
• Other than this we have a quiet day with Canadian RMPI the days other highlight 13.30.
• Late this evening we have New Zealand employment change & unemployment date. Trade Idea:
• The Aussie has been hit hard this morning, with the NZD/USD falling in sympathy. With commodity prices still depressed, the could be still downside for both pairs from here, but the NZD/USD looks the more attractive target.
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.
Morning Report: Aussie Slumps On Unexpected Rate Cut
Morning Report: 8.30 London
• This morning, the Australian dollar is the big mover after cutting rates to 2.25% form 2.50% in an unexpected move that matches the other commodity heavyweight Canada. The AUD/JPY is down -2.42%, with the AUD/USD off by 2.18%. The NZD/USD is also down in sympathy.
• The move has been good news for the US dollar which is heading back towards the highs, while the S&P 500 holds after Monday’s rally.
• Gold is on the rise as the precious metal continues to chop and change.
• The pound is continuing to under perform, with the EUR/GBP rising again and the GBP/JPY slipping to challenge the lows.
Coming up today:
• Coming up today we have UK construction PMI at 09.30.
• Other than this we have a quiet day with Canadian RMPI the days other highlight 13.30.
• Late this evening we have New Zealand employment change & unemployment date.
Trade Idea:
• The Aussie has been hit hard this morning, with the NZD/USD falling in sympathy. With commodity prices still depressed, the could be still downside for both pairs from here, but the NZD/USD looks the more attractive target.
A good way to play this is a LOWER trade predicting that the NZD/USD will close below 0.7125 in 7 days time for a potential return of 148%.
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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