Markets conservative ahead of FOMC

Morning Report: 08.45 London

• Markets are cautious today ahead of a very busy Thursday and Friday which include US Non Farm Payrolls and the ECB statement. The S&P 500 typifies this indecision, with the benchmark stuck in a tight range.
 

 • On currency markets, the NZD/ USD continues to lead after positive economic data last night.

• The euro is also recovering yesterday’s losses, though this move is more about dollar index weakness.

Coming up today:

• Coming up today we have UK manufacturing production at 09.30, with a gain of 1.2% expected. GDP estimates are released at 15.00.

• Canadian building permits and Ivey PMI follow at 13.30 and 15.00.



Trade Idea:

• Coming the close on Friday, markets are highly unlikely to still be within the confines of this tight trading range. The primary to pair to focus on could be the AUD/ JPY as a favourite risk barometer for many traders.

This Daily Market Report is written by Dave Evans, Professional Trader. This is presented as an idea to stimulate binary option trading ideas and is not a financial advice.

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