• This morning, stock markets are trying to nudge back higher, but there is no urgency to the move just yet. Elsewhere, the US dollar continues to dominate currency movements.
• The Australian dollar continues to suffer after employment data came in well below estimates and unemployment jumped to its highest level since July 2002. Further rate cuts could be in the offing.
• The euro is making a recovery of sorts after the EUR/USD hit its lowest intraday level in over 9 months yesterday, though below par German industrial production numbers have put a lid on things.
• Gold is is nudging back slightly after Ukraine fears sparked a one day spike.
• The continued strength of the US dollar saw the USD/JPY rise in early trading this morning.
Coming up today:
• Coming up today we have the the UK rate statement at 12.00. This is followed by the ECB statement at 12.45 and press conference at 13.30.
• US unemployment claims and Canadian building permits also arrive at 13.30, with Canadian Ivey PMI at 15.00.
Trade Idea:
• The USD/JPY down swing stopped at the 102 level which is significant as this level has turned into a key support and resistance point in recent weeks. If the level holds, there could be further upside from here.
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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Aussie Plunges On Employment Shock
Morning Report: 09.00 London
• This morning, stock markets are trying to nudge back higher, but there is no urgency to the move just yet. Elsewhere, the US dollar continues to dominate currency movements.
• The Australian dollar continues to suffer after employment data came in well below estimates and unemployment jumped to its highest level since July 2002. Further rate cuts could be in the offing.
• The euro is making a recovery of sorts after the EUR/USD hit its lowest intraday level in over 9 months yesterday, though below par German industrial production numbers have put a lid on things.
• Gold is is nudging back slightly after Ukraine fears sparked a one day spike.
• The continued strength of the US dollar saw the USD/JPY rise in early trading this morning.
Coming up today:
• Coming up today we have the the UK rate statement at 12.00. This is followed by the ECB statement at 12.45 and press conference at 13.30.
• US unemployment claims and Canadian building permits also arrive at 13.30, with Canadian Ivey PMI at 15.00.
Trade Idea:
• The USD/JPY down swing stopped at the 102 level which is significant as this level has turned into a key support and resistance point in recent weeks. If the level holds, there could be further upside from here.
A good way to play this could be a HIGHER trade predicting that the USD/JPY will close above 102.50 in 5 days time for a potential return of 165%.
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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Summary:
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