Thu, 29 Jan 2015
- This morning, stock markets are stable after selling off heavily into the close last night. The Federal reserve kept on message, reiterating that the ‘patient’ is recovering with means a rate hike is more likely than not this year. Stock markets don’t like the sound of an end to the era of cheap credit so threw their toys out of the bathwater.
- Meanwhile, the dollar index strengthened in line with interest rate expectations.
- The big mover this morning is the Australian dollar, which is dropping in the face of the strong US dollar and weak import prices data.
- Overnight there was little to cheer about from New Zealand with a trade balance that ballooned more than expected.
- The euro is generally blowing with the breeze today and not showing any relative weakness or out performance.
- Coming up today we have UK CBI sales at 11.00.
- This is followed by US unemployment claims at 13.30, with pending home sales at 15.00.
- The USD/CAD continues to strengthen as oil prices test new lows.
- New highs could be in the offing here and a good way to play this is a HIGHER trade predicting that the USD/CAD will close above 1.2600 in 7 days could return 182% if successful.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.