Aussie Dollar Stumbles Despite China Data
Binary.com Daily Financial Review September 13th 2016
- This morning, the Australian dollar is lagging despite largely in-line Chinese economic data.
- The AUD/JPY is extending its losing run, while the AUD/USD has reversed yesterday’s gains.
- The NZD/USD is trading lower in sympathy.
- The dollar is on the rise again, erasing most of the yesterday’s gains.
- There are also positive moves from the USD/JPY, though less impactful so far.
- In Europe, the EUR/GBP has a slight positive bias after yesterday’s move lower in favour of the pound.
Coming up today:
- Coming up today we have UK CPI at 09.30, released alongside PPI and RPI.
- Following this, we have ECB president Draghi speaking at 10.00 and German ZEW economic sentiment at the same time.
- The jury is still out on this month’s Fed decision on rates, but the general momentum still seems to be with the dollar and a potential rate hike in the next few months. This could be bad news for the AUD/USD which is already buckling under pressure.
N.B. 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. 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.