China reports strong Caixin PMI

China released its PMI report earlier today and its growth in China’s manufacturing sector accelerated in July as “output and new orders rose at the fastest pace since February on strong export sales.” The Caixin new report rose to 51.1 in July, that is, above the 50-point mark which indicates an expansion of the manufacturing economy. Germany and the U.K. are also set to release their Manufacturing PMI for July today, at 07:55 GMT and 08:30 GMT respectively. These reports could impact trend of the euro and the pound sterling.

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As China reports a better-than-expected Caixin July manufacturing PMI figures, this led Asian equities trade on a positive note. As such, Japan’s Nikkei 2250 index gained 0.22 percent, Australia’s ASX 200 added 0.77 percent and the Hang Seng index advanced by 0.73 percent. Meanwhile, the U.S. ISM Manufacturing PMI for July, due later at 14:00 GMT is expected to affect several assets on the market today. Consequently, the U.S. dollar edged up from 2-1/2 year low ahead of data releases on Tuesday.

Apple Inc. shall be releasing its third quarter earnings in after-hours trading for the month ending June Tuesday, and the earnings per share is expected to be at $1.57. Trump fired White House Communications director Anthony Scaramucci only 10 days in the post. Reportedly, the U.S. President was annoyed about Scaramucci’s comments to the New Yorker magazine, and also because Trump was unhappy with the latter’s performance.

Technical Analysis

AUD/USD

AUD/USD

This currency pair gained momentum as from 17:00 UTC at $0.79804 to close this uptrend by 20:00 UTC at $0.80019 on Monday. Earlier today at 01:00 UTC, the asset was quoted at its highest level of $0.80408. Later, around 04:00 UTC, the AUD/USD pair rose by 0.36 percent at the $0.80299. The Aussie gained strength above the U.S. dollar as the RBA reported its interest rate decision and rate statement, use Ladder Trading for this one.

USOIL

USOIL

This crude oil is seen recovering from previous losses as it gained momentum as from 15:00 UTC at $49.29 around 15:00 UTC to close this bullish trend by 19:00 UTC at $50.23 a barrel in yesterday’s session. The US West Texas intermediate was quoted at its highest level today at $50.26 per barrel around 01:00 UTC but started fluctuating later during the day. It is expected to maintain much volatility through today.

EUR/AUD

EUR/AUD

The EUR/AUD pair recorded a huge set of momentary jumps in Monday’s session as from the 1.47072 level at 12:00 UTC to reach a record high at the 1.48042 level by 15:00 UTC, this was the highest level since last week. However, in today’s session, the asset started off on a bearish note at the 1.47695 level at 00:00 UTC. It may drop further on the forex market today, changes in the trend of the euro could uplift this asset on the market, keep an eye.

Things to watch on the market

Tip 1

Consider trading on indices such as the Shanghai Composite and the SSE180 (Shanghai Stock Exchange) with the TradeReplica tool today. Assets such as the EUR/GBP, EUR/USD and FTSE 100 index should not be overlooked.

 

Tip 2

It is advisable to trade on Asian indices such as the Hang Seng, Hang Seng – FAUG17 with the Classic Binary Options.

 

Tip 3

It is highly recommended to trade on shares of Apple and the Nasdaq index.