• This morning, the Australian dollar is receiving yet another boost from a steadying China. Chinese non manufacturing PMI smashed the previous month’s numbers, coming in at its highest level in 14 months.
• The AUD/ USD is up 0.66%, the AUD/ JPY 0.59% and the NZD/ USD up 0.34%.
•Aside from this, markets are generally quiet with the dollar pairs benefiting from a subdued dollar index.
Coming up today:
• Coming up today we have UK construction PMI at 09.30, with out expected to remain steady.
• From 15.00, we switch to the US, with Factory orders expected to rise by 1.9%.
Trade Idea:
• The euro came in for some early pressure in the small hours of the morning, but is stable now as the recent support levels hold.
•After last week’s sell off, there is the potential for a rebound in sentiment here – even if the chance of a rate cut are still fairly high.
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.
China boosts Aussie once again
Morning Report: 08.45 London
• This morning, the Australian dollar is receiving yet another boost from a steadying China. Chinese non manufacturing PMI smashed the previous month’s numbers, coming in at its highest level in 14 months.
• The AUD/ USD is up 0.66%, the AUD/ JPY 0.59% and the NZD/ USD up 0.34%.
• Aside from this, markets are generally quiet with the dollar pairs benefiting from a subdued dollar index.
Coming up today:
• Coming up today we have UK construction PMI at 09.30, with out expected to remain steady.
• From 15.00, we switch to the US, with Factory orders expected to rise by 1.9%.
Trade Idea:
• The euro came in for some early pressure in the small hours of the morning, but is stable now as the recent support levels hold.
• After last week’s sell off, there is the potential for a rebound in sentiment here – even if the chance of a rate cut are still fairly high.
• A HIGHER trade predicting that the EUR/ USD closes above 1.3550 in 5 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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