• After a brief counter rally yesterday, markets are once again dancing to the dollar’s tune with the dollar index riding high this morning and the S&P 500 caught by some follow on selling.
• Gold is the biggest mover, down 0.76% as the sell of intensifies.
• Australasia pairs are also selling off heavily despite better than expected Chinese CPI. The worse than expected PPI is what caused the most damage.
• The euro is picking up Friday’s losses, erasing yesterday’s recovering as Greek politicians ratchet up their threats to leave the Eurozone.
• Then yen pairs are mixed as the weak yen is balanced by weaker currencies elsewhere.
Coming up today: • Coming up today we have ECOFIN meetings running throughout the day. This is followed by BOE governor Carney speaking at 14.25.
Trade Idea:
• The euro downtrend is back on track and we’re likely to see further downside before the Greek issue resolves itself (if at all).
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.
Dollar Rally Back On Track
Morning Report: 09.00 London
• After a brief counter rally yesterday, markets are once again dancing to the dollar’s tune with the dollar index riding high this morning and the S&P 500 caught by some follow on selling.
• Gold is the biggest mover, down 0.76% as the sell of intensifies.
• Australasia pairs are also selling off heavily despite better than expected Chinese CPI. The worse than expected PPI is what caused the most damage.
• The euro is picking up Friday’s losses, erasing yesterday’s recovering as Greek politicians ratchet up their threats to leave the Eurozone.
• Then yen pairs are mixed as the weak yen is balanced by weaker currencies elsewhere.
Coming up today:
• Coming up today we have ECOFIN meetings running throughout the day. This is followed by BOE governor Carney speaking at 14.25.
Trade Idea:
• The euro downtrend is back on track and we’re likely to see further downside before the Greek issue resolves itself (if at all).
A good way to play this is a LOWER trade predicting that the EUR/USD will close below 1.0700 in 21 days time for a potential return of 159%.
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.
Summary:
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