• This morning, the Australian dollar is riding high after impressing with better than expected employment change data. The New Zealand dollar is pushing higher in sympathy.
• Gold is also enjoying the slight pause in the dollar index’s advance, with the precious metal up 0.50%, with silver also enjoying a rebound.
• The main dollar pairs are also enjoying a respite from the dollar index’s bull market, with the EUR/USD in particular recovering.
• Overall, the S&P 500 is holding at the highs, while the dollar index drops back slightly.
Aussie Employment Impresses
Morning Report: 09.00 London
• This morning, the Australian dollar is riding high after impressing with better than expected employment change data. The New Zealand dollar is pushing higher in sympathy.
• Gold is also enjoying the slight pause in the dollar index’s advance, with the precious metal up 0.50%, with silver also enjoying a rebound.
• The main dollar pairs are also enjoying a respite from the dollar index’s bull market, with the EUR/USD in particular recovering.
• Overall, the S&P 500 is holding at the highs, while the dollar index drops back slightly.
Coming up today:
• Coming up today we have UK manufacturing production at 09.30, followed by UK the latest MPC rate statement and notes on the asset purchase facility.
• This is followed by the latest statement from the ECB at 12.45, followed by the press conference at 13.30.
• Also at 13.30 we have Canadian building permits, with US unemployment claims at the same time. Canadian Ivey PMI follows at 15.00.
• Finally, we have UK GDP at 15.00.
Trade Idea:
• The EUR/USD’s rally bring’s it back up to resistance and this could be a problem given the recent down trend.
A good way to play this could be a LOWER trade predicting that the EUR/USD will close below 1.2450 in 7 days for a potential return of 150%.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
Summary:
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