• This morning, the US dollar is on the back foot, with the main dollar pairs fighting back. This is in part down to the better than expected Chinese trade balance data this morning.
• The pound is leading the charge, just as it out performed yesterday.
• The euro is also on the rise ahead of a busy economic calendar of lower tier economic releases.
• The yen pairs have resumed their downside bias as the yen regains the favour of traders.
Coming up today:
• We have mostly lower tier economic items this morning, starting with French trade balance of 07.45.
• Revised EU GDP follows at 10.00
Trade Idea:
• The British pound and Australian dollar are still on opposing interest rate trajectories. As such, we should still see further upside for the GBP/AUD.
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. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
China Trade Balance Helps Aussie Stabilise
Morning Report: 08.30 London
• This morning, the US dollar is on the back foot, with the main dollar pairs fighting back. This is in part down to the better than expected Chinese trade balance data this morning.
• The pound is leading the charge, just as it out performed yesterday.
• The euro is also on the rise ahead of a busy economic calendar of lower tier economic releases.
• The yen pairs have resumed their downside bias as the yen regains the favour of traders.
Coming up today:
• We have mostly lower tier economic items this morning, starting with French trade balance of 07.45.
• Revised EU GDP follows at 10.00
Trade Idea:
• The British pound and Australian dollar are still on opposing interest rate trajectories. As such, we should still see further upside for the GBP/AUD.
A good way to play this is a HIGHER trade predicting that the GBP/AUD will close above 2.2200 in 10 days time for a potential return of 143%.
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. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
Summary:
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