• This morning, all eyes will be on the US Federal Reserve with the prospect of a September rate hike still finely poisted. The divergent nature of world central banks was highlighted yesterday with a unexpectedly dovish statement from the ECB’s Maria Draghi which. This contrasts with the very real potential for a short term rate hike for the FOMC. Still, markets are forward looking machines and so far the fall in the euro has been less than one might expect, with the dollar index struggling to push on from recent highs.
• Today’s big mover is once again the Australian dollar as it struggles to cope with China’s slow burning economic decline.
• The yen pairs continue to decline as the Japanese currency picks up the paton from the US dollar.
Coming up today:
• The FOMC meeting is the days big ticket at 13.30. Before this we have FOMC member Lackers speaking at 13.30. At the same time of the release we also get US average hourly earnings data as well as the unemployment rate.
• Canadian employment date is also released at 13.30 with Ivey PMI at 15.00.
Trade Idea:
• Australia is a big casuality of China’s battle to secure its economy and could still have further to slide as it’s interest rate expectations head lower.
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.
All Eyes On Fed While Aussie Stumbles
Morning Report: 07.00 London
• This morning, all eyes will be on the US Federal Reserve with the prospect of a September rate hike still finely poisted. The divergent nature of world central banks was highlighted yesterday with a unexpectedly dovish statement from the ECB’s Maria Draghi which. This contrasts with the very real potential for a short term rate hike for the FOMC. Still, markets are forward looking machines and so far the fall in the euro has been less than one might expect, with the dollar index struggling to push on from recent highs.
• Today’s big mover is once again the Australian dollar as it struggles to cope with China’s slow burning economic decline.
• The yen pairs continue to decline as the Japanese currency picks up the paton from the US dollar.
Coming up today:
• The FOMC meeting is the days big ticket at 13.30. Before this we have FOMC member Lackers speaking at 13.30. At the same time of the release we also get US average hourly earnings data as well as the unemployment rate.
• Canadian employment date is also released at 13.30 with Ivey PMI at 15.00.
Trade Idea:
• Australia is a big casuality of China’s battle to secure its economy and could still have further to slide as it’s interest rate expectations head lower.
A good way to play this is a LOWER trade predicting that the AUD/JPY will close below 82.00 in 12 days time for a potential return of 200%.
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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