Global manufacturing boosts commodities

Morning Report: 08.30 London

• This morning while stock markets fall off, commodities and commodity related currencies are on rise after a strong set of manufacturing figures across the world.

• The S&P 500 looks set for its second straight day of losses, while the dollar index remains unchanged.

• The commodity led currencies of the Aussie and New Zealand dollar are leading the charge this morning.

 • In addition, gold and Silver are on the rise.

• The yen pairs are slipping lower, led by the euro which looks set for its second day of significant losses.

Coming up today:

• Coming up today we have UK construction PMI and Net lending to individuals at 09.30.

• From 17.45 we have a number of Fed speakers, topped off by Fed Chairman Bernanke speaking at 19.30.

Trade Idea:

• The AUD/JPY is performing well this morning, despite the rest of the yen pairs selling off heavily.

• If/ When the pressure releases on the yen pairs, the AUD/JPY could rocket higher.

A good way to play this could be a HIGHER trade predicting that the AUD/JPY closes above 94.00 in 3 days time for a potential return of 150%.

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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