Morning Report: 07.00 London • This morning, as Britain enters the final day of EU referendum campaigning, the pound is showing signs of stability. The GBP/USD is holding Monday’s gains, while the EUR/GBP holds at the lows. The move has been helped by yesterday’s better than expected public sector net borrowing figures.
• The euro is holding up well though, with solid German ZEW economic data yesterday.
• The US dollar is trading lower this morning, in line with the USD/JPY continued weakness.
Coming up today:
• Coming up today we have Canadian retail sales at 13.30. • This is followed by Fed chair Yellen testifying at 15.00 and crude oil inventories at 15.30.
Trade Idea:
• The USD/JPY has been under pressure this month as Brexit uncertainty feeds an ongoing flight to quality. If, as expected the UK votes to remain, we could see a releasing of this pressure and the USD/JPY rising.
Disclaimer: 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 accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
Strong UK Data Underlines
Pound Stability
Morning Report: 07.00 London
• This morning, as Britain enters the final day of EU referendum campaigning, the pound is showing signs of stability. The GBP/USD is holding Monday’s gains, while the EUR/GBP holds at the lows. The move has been helped by yesterday’s better than expected public sector net borrowing figures.
• The euro is holding up well though, with solid German ZEW economic data yesterday.
• The US dollar is trading lower this morning, in line with the USD/JPY continued weakness.
Coming up today:
• Coming up today we have Canadian retail sales at 13.30.
• This is followed by Fed chair Yellen testifying at 15.00 and crude oil inventories at 15.30.
Trade Idea:
• The USD/JPY has been under pressure this month as Brexit uncertainty feeds an ongoing flight to quality. If, as expected the UK votes to remain, we could see a releasing of this pressure and the USD/JPY rising.
A good way to play this is a HIGHER trade predicting that the USD/JPY closes above 106.00 in 14 days for a potential return of 184%.
Disclaimer: 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 accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
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