• This morning, the Australian dollar is the big mover after the RBA unexpectedly kept rates on hold. Not only this, building approvals, current account and average earnings all impressed. The AUD/USD is up 0.68%, the NZD/USD up 0.45% and the AUD/JPY up 0.40%.
• The Aussie rally has had an impact on the dollar index which is pulling back from the highs. The S&P 500 is nipping back from the highs.
• Elsewhere, the the USD/JPY is pulling back in line with the weaker US Dollar. Other yen pairs are slipping back, though to a lesser degree.
Coming up today: • Coming up today, we have UK Construction PMI at 09.30, followed by BOE governor Carney speaking at 10.00.
• At 13.30 we switch to North America with Canadian GDP.
Trade Idea:
• The Aussie dollar impressed today with strong economics and a decision by the RBA to keep rates on hold, but this is likely to be a stay of execution, especially with China dropping rates recently.
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.
Aussie Rate Hold Surprise
Morning Report: 06.30 London
• This morning, the Australian dollar is the big mover after the RBA unexpectedly kept rates on hold. Not only this, building approvals, current account and average earnings all impressed. The AUD/USD is up 0.68%, the NZD/USD up 0.45% and the AUD/JPY up 0.40%.
• The Aussie rally has had an impact on the dollar index which is pulling back from the highs. The S&P 500 is nipping back from the highs.
• Elsewhere, the the USD/JPY is pulling back in line with the weaker US Dollar. Other yen pairs are slipping back, though to a lesser degree.
Coming up today:
• Coming up today, we have UK Construction PMI at 09.30, followed by BOE governor Carney speaking at 10.00.
• At 13.30 we switch to North America with Canadian GDP.
Trade Idea:
• The Aussie dollar impressed today with strong economics and a decision by the RBA to keep rates on hold, but this is likely to be a stay of execution, especially with China dropping rates recently.
A good way to play this is a LOWER trade predicting that the AUD/USD will close BELOW 0.7800 in 21 days time for a potential return of 117%.
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:
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