• Lack lustre Australian building approvals and Chinese PPI data more than offset strong Aussie retail sales data across Asian this morning and this has translated into cautious trading in the early European session.
• The dollar pairs are making moderate gains with the euro stabilising after under performance yesterday.
• The euro saw heavy falls against the pound yesterday, but movements look more stable this morning.
• The Australian dollar is under performing its peers after mixed economic data.
• Silver is recovering somewhat, but the precious metal remains firmly range bound.
Coming up today:
• Coming up today we have UK trade balance data at 09.30.
• German industrial production follows at 11.00.
• From midday, interest rates are under focus with the UK rate decision and statement. The ECB rate follows at 12.45, with the press conference due at 13.30.
• Also at 13.30, we have US unemployment claims.
Trade Idea:
• The Australian dollar’s down trend has seen some volatile movement and there could be lower lows to come.
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.
Chinese CPI dip limits early movement.
Morning Report: 08.15 London
• Lack lustre Australian building approvals and Chinese PPI data more than offset strong Aussie retail sales data across Asian this morning and this has translated into cautious trading in the early European session.
• The dollar pairs are making moderate gains with the euro stabilising after under performance yesterday.
• The euro saw heavy falls against the pound yesterday, but movements look more stable this morning.
• The Australian dollar is under performing its peers after mixed economic data.
• Silver is recovering somewhat, but the precious metal remains firmly range bound.
Coming up today:
• Coming up today we have UK trade balance data at 09.30.
• German industrial production follows at 11.00.
• From midday, interest rates are under focus with the UK rate decision and statement. The ECB rate follows at 12.45, with the press conference due at 13.30.
• Also at 13.30, we have US unemployment claims.
Trade Idea:
• The Australian dollar’s down trend has seen some volatile movement and there could be lower lows to come.
A good way to play this is a ONE TOUCH trade predicting that the AUD/USD will touch 0.8800 before Friday’s close for a potential return of 137%.
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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