Aussie Rallies
Despite Rate Cut

Morning
Report: 09.00 London

• This
morning, the Australian
dollar
is on the rise
despite the
RBA cutting
rates to
2.00%. There
had been some
speculation of
an even deeper
cut, so in the
circumstances,
an in-line cut
to 2.00% is
seen as good
news for the
Aussie. The AUD/JPY
is up 0.47%,
with the AUD/USD
up 0.45%.

• By contrast, the rest of
the dollar pairs
are slipping back as the dollar
index recovers
from its April slump.
                   
                          

• The New Zealand
dollar is
slipping further back from
the highs after bumping on
support.

• The EUR/USD
is off by 0.36%, with the
EUR/JPY
down 0.33% and the EUR/GBP
by 0.26%.

• The S&P 500
continues to flirt with
the highs.
                         
                         
                         
                         
                         
                         

                         
 
               
Coming
up today:

• Coming up today we have
UK construction PMI at
09.30 with a slight dip to
57.6 expected.

• Following this, Canadian
and US Trade balance
follows at 13.30, with US
ISM non manufacturing PMI
due at 15.00.

• Later this evening, we
have New Zealand
employment change and the
latest unemployment rate.

Trade Idea:

• The NZD/USD
is still struggling after
failing at the 0.7750
level in April. With the
dollar staging a mini
revival, there could be
more downside from here.

                            
                     
 
A
good way to play this
is a LOWER trade
predicting that the
NZD/USD will close
below 0.7500 in 7 days
time for a potential
return of 107%.

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: