• This morning, stock markets are staging a tentative counter rally after heavy selling yesterday. This sell off has been sparked by the impact of the ECB’s QE program and fears over the rapidity of a US rate hike.
• The news has sent the US dollar index to new highs, helped by poor Chinese industrial production figures which have added a drive for safe havens.
• The euro is coming in for some follow on selling this morning. The EUR/USD is down 0.40%, with the EUR/GBP down 0.38% after Draghi’s early speech failed to calm markets.
• Elsewhere, the USD/JPY continues to rise due to the ever strong US dollar.
• The NZD/USD is also continuing its downswing on the back of poor Chinese data.
Coming up today: • Coming up today we have UK manufacturing production at 09.30.
• Following this we have UK NIESR GDP estimate and MPC member Weale speaking.
• Later this evening, the RBNZ is expected to keep rates at 3.50%.
Trade Idea:
• The euro’s down trend shows no sign of abating and as such, further down side is likely.
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.
QE & Rate Hike Fears Spook Markets
Morning Report: 09.00 London
• This morning, stock markets are staging a tentative counter rally after heavy selling yesterday. This sell off has been sparked by the impact of the ECB’s QE program and fears over the rapidity of a US rate hike.
• The news has sent the US dollar index to new highs, helped by poor Chinese industrial production figures which have added a drive for safe havens.
• The euro is coming in for some follow on selling this morning. The EUR/USD is down 0.40%, with the EUR/GBP down 0.38% after Draghi’s early speech failed to calm markets.
• Elsewhere, the USD/JPY continues to rise due to the ever strong US dollar.
• The NZD/USD is also continuing its downswing on the back of poor Chinese data.
Coming up today:
• Coming up today we have UK manufacturing production at 09.30.
• Following this we have UK NIESR GDP estimate and MPC member Weale speaking.
• Later this evening, the RBNZ is expected to keep rates at 3.50%.
Trade Idea:
• The euro’s down trend shows no sign of abating and as such, further down side is likely.
A good way to play this is a ONE TOUCH trade predicting that the EUR/USD will TOUCH 1.050 within the next 50 days for a potential return of 144% if successful.
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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