This morning, the Australian dollar is sinking fast after inflation (CPI) dropped more than expected. The AUD/JPY is down 0.84%, with the AUD/USD off by 0.73%.
The NZD/USD is following suit, with minor losses to follow up on yesterday’s slump.
The US dollar continues to rise, pushing to the highest level for a month. The EUR/USD and GBP/USD are making small gains by contrast.
The euro recovered ground against the euro yesterday, helping to recover Monday’s opening gap lower.
The USD/JPY is slightly lower this morning after a solid day yesterday.
Meanwhile, gold continues to slip lower with losses today and yesterday.
Coming up today
We start the day with Spanish unemployment rates at 08.00.
European M3 Money Supply is released at 09.00.
At 12.45, we get the ECB minimum bid, followed by the press conference at 13.30.
US unemployment claims are released at 13.30.
US pending home sales are released at 15.00.
Trade Idea
The Australian dollar continues to slump as the dollar index climbs and Aussie rate hike expectations diminish.
Morning Report: 07.00 London
This morning, the Australian dollar is sinking fast after inflation (CPI) dropped more than expected. The AUD/JPY is down 0.84%, with the AUD/USD off by 0.73%.
The NZD/USD is following suit, with minor losses to follow up on yesterday’s slump.
The US dollar continues to rise, pushing to the highest level for a month. The EUR/USD and GBP/USD are making small gains by contrast.
The euro recovered ground against the euro yesterday, helping to recover Monday’s opening gap lower.
The USD/JPY is slightly lower this morning after a solid day yesterday.
Meanwhile, gold continues to slip lower with losses today and yesterday.
Coming up today
We start the day with Spanish unemployment rates at 08.00.
European M3 Money Supply is released at 09.00.
At 12.45, we get the ECB minimum bid, followed by the press conference at 13.30.
US unemployment claims are released at 13.30.
US pending home sales are released at 15.00.
Trade Idea
The Australian dollar continues to slump as the dollar index climbs and Aussie rate hike expectations diminish.
Further downside is on the cards. A good way to play this is a LOWER trade predicting that the AUD/USD will close below 0.7700 in 14 days for a potential return of 116%.
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