• This morning, financial markets are decidedly cautious ahead of a day or reckoning for economic data. This caution is understandable when you consider what lies ahead today – Two central bank meetings and the latest US GDP figures (with NFP to come tomorrow).
• This far this morning, the Australian dollar is feeling the pinch after employers added less jobs than expected overnight. The AUD/ USD is down 0.37%, with the AUD/ JPY off by 0.32%.
•Elsewhere, there isn’t much movement to speak of, though it is worth noting that the NZD/ USD doesn’t always dance to the Aussie’s tune as the NZD/ USD rise from the morning lows.
Coming up today:
• Coming up today, we have German industrial production at 11.00, followed by the UK rate statement at 12.00. No changed is expected, but Carney’s forward guidance could be key here.
• From 12.45 we switch to the ECB, with the press conference to follow at 13.30. No change is expected, but there is an outside chance of a rate cut.
•From 13.30, we switch to the US with GDP and unemployment claims data.
Trade Idea:
• After speculation first started of an ECB rate cut, the EUR/ USD sold off heavily then has been trading cautiously as traders await the action decision.
• There’s a fair chance that the previous rate speculation went too far, making a HIGHER trade attractive here.
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.
Markets quiet ahead of deluge
Morning Report: 08.45 London
• This morning, financial markets are decidedly cautious ahead of a day or reckoning for economic data. This caution is understandable when you consider what lies ahead today – Two central bank meetings and the latest US GDP figures (with NFP to come tomorrow).
• This far this morning, the Australian dollar is feeling the pinch after employers added less jobs than expected overnight. The AUD/ USD is down 0.37%, with the AUD/ JPY off by 0.32%.
• Elsewhere, there isn’t much movement to speak of, though it is worth noting that the NZD/ USD doesn’t always dance to the Aussie’s tune as the NZD/ USD rise from the morning lows.
Coming up today:
• Coming up today, we have German industrial production at 11.00, followed by the UK rate statement at 12.00. No changed is expected, but Carney’s forward guidance could be key here.
• From 12.45 we switch to the ECB, with the press conference to follow at 13.30. No change is expected, but there is an outside chance of a rate cut.
• From 13.30, we switch to the US with GDP and unemployment claims data.
Trade Idea:
• After speculation first started of an ECB rate cut, the EUR/ USD sold off heavily then has been trading cautiously as traders await the action decision.
• There’s a fair chance that the previous rate speculation went too far, making a HIGHER trade attractive here.
• A HIGHER trade predicting that the EUR/ USD closes above 1.3600 in 1 days time could return 200% if successful.
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.
Summary:
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