Binary.com Daily Market Report (11th Nov)
November 11, 2015 9:12 amVideo
Latest News
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- USD/JPY: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
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- EUR/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: trading plan for the US session on April 26th (analysis of morning deals). The pound attempted, but it didn’t go April 26, 2024
- EUR/USD: trading plan for the US session on April 26th (analysis of morning deals). The euro continues to rise April 26, 2024
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- Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- XM’s Lombok Collaboration: Brightening Futures April 26, 2024
Markets Shrug Off Poor Chinese Industrial Production
Morning Report: 06.30 London
• Markets remain relatively tight despite below par Chinese industrial production figures this morning. Retail sales did come in above expectations, but it does speak of the current market mood that such a miss can pass without serious reactions. The general theme for today is of slight dollar weakness, as the Dollar index backs off and most Dollar pairs nudge higher.
• The USD/JPY continues to act as a carbon copy of the Dollar index.
• Elsewhere, the EUR/USD is making small gains ahead of ECB Draghi’s speech at 13.15 today.
• The biggest movers have been the Australian and New Zealand Dollars, which is curious given the slow Chinese industrial data this morning. Perhaps we are in curious situation whereby moderately poor Chinese data is positive for markets because it may be enough to stay the Fed’s hand in December.
Coming up today:
• Coming up today we have UK claimant count change and unemployment data, released alongside average earnings.
• ECB president Draghi speaks at 13.15.
• There is a bank holiday in Canada, the US and France today.
Trade Idea:
• Today’s FT has a report claiming that low energy prices could be here for the next 20 years. Even a situation resembling half this scenario would be disastrous for the Canadian economy.
• Since the recent elections, the USD/CAD has been biased higher, largely following the whims of the US Dollar.
This is likely to continue in the long term and a good way to play this is a HIGHER trade predicting that the USD/ CAD will close above the USD/CAD in 42 days for a potential return of 122%.
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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