Morning Report: 08.15 London

• There’s a negative bias in the morning’s trading after Australian trade balance came in well below estimates. The AUD/USD is down 0.56%, with the AUD/JPY down 0.46%. The NZD/USD is the day’s biggest faller, down 0.64%.

• Coming up today we have UK services PMI at 09.30.

• European r etail sales follow at 10.00.

• The main event for the day will be US ADP Non Farm Employment change at 13.15, with ISM non manufacturing PMI at 15.00.

Bet Idea:

• The NZD/USD is falling along with the Australian dollar this morning, with the pair having out performed the Aussie in recent weeks by some margin. However, if support in the region of 0.8170 breaks, there could be significant downside to come.

A good way to play this might be a LOWER trade predicting that the NZD/USD closes below 0.8175 in 3 days time for a potential return of 144%.