Aussie Looks on The Bright Side

Morning Report: 09.00 London

• This morning, markets have paused, with both the S&P 500 and dollar index reversing some of the recent bull run.
                                                                 

                               

                               

• The Australian dollar is performing well, despite a mixed set of data over night. The latest trade balance came below expectations, but retail sales increased by more than analysts projected.
                                                                                                                                                                   
                               

                               

• Silver is the big mover, dropping by nearly 1% despite the dollar index taking its foot off the gas. Gold is unmoved.
                                             
                               

                               
                          
• The yen pairs are capitalising on the softer dollar and slipping back slightly.

                               
                           
Coming up today:

• We’ve an extremely busy day ahead today, with UK construction PMI first up at 09.30

• EU economic forecasts follow at 10.00.

• From 13.30 we have US and Canadian trade balance, followed by US factory orders at 15.00.

• NZD employment data follows late this evening.

Trade Idea:

• The AUD/JPY is out performing this morning as the dollar index pauses for breath. The USD/JPY up trend is hard to oppose though and this could well lift all yen pairs in coming weeks.

                               
                               
A good way to play this is a HIGHER trade predicting that  the AUD/JPY will close above 99.50 in 15 days could return 140%.

                               

This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. 

Summary: