• This morning the US dollar is slightly softer, but still holding the 14 day moving average. Last night, the US ADP payrolls came in slightly below expectations at 213k, thus easing expectations for Friday’s big NFP data.
• The S&P 500 is still stuck in a trading range after dropping last night.
• The Australian dollar continues to recovery despite poor Aussie retail data. The AUD/USD is up 0.41%, the AUD/JPY up 0.37%. The NZD/USD also continues to rally by 0.37%.
• Gold continues to slip back despite a small rise this morning.
• Dollar pairs are mixed after the euro fell back heavily while the pound held its ground yesterday.
Coming up today: • Coming up today we have have European EU economic forecasts at 10.00.
• This is followed by the latest UK rate statement at 12.00.
• From 13.30 we have Canadian and US trade balance, with US unemployment claims at the same time. Trade Idea:
• The USD/CAD rallied heavily yesterday just as oil prices retreated from their mini rally.
• The Canadian dollar is still vulnerable and there could be more upside ahead.
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.
Dollar Softens On Weak ADP Data
Morning Report: 8.30 London
• This morning the US dollar is slightly softer, but still holding the 14 day moving average. Last night, the US ADP payrolls came in slightly below expectations at 213k, thus easing expectations for Friday’s big NFP data.
• The S&P 500 is still stuck in a trading range after dropping last night.
• The Australian dollar continues to recovery despite poor Aussie retail data. The AUD/USD is up 0.41%, the AUD/JPY up 0.37%. The NZD/USD also continues to rally by 0.37%.
• Gold continues to slip back despite a small rise this morning.
• Dollar pairs are mixed after the euro fell back heavily while the pound held its ground yesterday.
Coming up today:
• Coming up today we have have European EU economic forecasts at 10.00.
• This is followed by the latest UK rate statement at 12.00.
• From 13.30 we have Canadian and US trade balance, with US unemployment claims at the same time.
Trade Idea:
• The USD/CAD rallied heavily yesterday just as oil prices retreated from their mini rally.
• The Canadian dollar is still vulnerable and there could be more upside ahead.
A good way to play this is a HIGHER trade predicting that the USD/CAD will close above 1.2600 in 14 days for a potential return of 126%.
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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