Dollar Index Behind Early Movers 

Morning Report: 09:00 London

• This morning, a weak dollar index is setting the tone for this morning’s trading. In a generally positive trading environment, the dollar pairs are slipping back, with the GBP/USD a notable early mover..
         

• Ahead of UK services PMI, the GBP/USD is up 0.50%, with the GBP/JPY up 0.20%
                                                                                                                                                           

• The NZD/USD is the big mover, out performing the Aussie after the RBA elected to keep rates on hold. Hurting the Aussie was the release of disappointing trade balance figures.

 • Commodities are on on the rise, helped by the weak dollar index.

                             
                             
                              

Coming up today:

• Coming up today, we have UK Services PMI at 09.30.

• Following this we switch to North America at 13.30 for the release of Canadian and US trade balance. Canadian Ivey PMI follows at 15.00.

Trade Idea:

• The NZD/USD is riding high this morning and is reaching for the skies as it breaks through resistance.

                             

The could be further upside, but this might be more of a pop. A good way to play this is a ONE TOUCH trade predicting that the NZD/USD touches 0.8800 within 3 days for a potential return of 136%. 

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

Summary: