• The morning markets are eyeing the latest interest rate decision from the Bank of England. As has been the case since the financial crisis, no change is expected, but traders will no doubt read the comments from governor Mark Carney. The EUR/GBP rose sharply yesterday after the UK manufacturing production rose less than expected.
• Elsewhere, the US dollar is recovering today after falling back under pressure from strong oil prices. US crude oil inventories came in below expectations.
• The stronger dollar is helping to push the yen pairs lower this morning, with the USD/JPY recovering over half of yesterday’s losses.
• The Aussie dollar remains under pressure after another round of selling this morning.
Coming up today:
• Coming up today we have the UK inflation report, rate report and asset purchase update all at 12.00. Governor Mark Carney is then due to speak at 12.45.
• Following this, we have Canadian NHPI at 13.30, alongside US unemployment claims and import prices.
• FOMC member Rosengren speaks at 16.45, with FOMC member George speaking at 18.30.
Trade Idea:
• The EUR/GBP is down slightly this morning, but a general trend is lacking as the pound eyes Brexit uncertainty and the euro facing a rare period of no crisis.
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.
UK Rates Set to Remain Unchanged
Morning Report: 06.30 London
• The morning markets are eyeing the latest interest rate decision from the Bank of England. As has been the case since the financial crisis, no change is expected, but traders will no doubt read the comments from governor Mark Carney. The EUR/GBP rose sharply yesterday after the UK manufacturing production rose less than expected.
• Elsewhere, the US dollar is recovering today after falling back under pressure from strong oil prices. US crude oil inventories came in below expectations.
• The stronger dollar is helping to push the yen pairs lower this morning, with the USD/JPY recovering over half of yesterday’s losses.
• The Aussie dollar remains under pressure after another round of selling this morning.
Coming up today:
• Coming up today we have the UK inflation report, rate report and asset purchase update all at 12.00. Governor Mark Carney is then due to speak at 12.45.
• Following this, we have Canadian NHPI at 13.30, alongside US unemployment claims and import prices.
• FOMC member Rosengren speaks at 16.45, with FOMC member George speaking at 18.30.
Trade Idea:
• The EUR/GBP is down slightly this morning, but a general trend is lacking as the pound eyes Brexit uncertainty and the euro facing a rare period of no crisis.
Further range bound trading is likely as these underlying factors play out over coming weeks. A good way to play this is an IN/OUT trade predicting that the EUR/GBP closes between a high of 0.7975 and a low of 0.7850 in 14 days time for a potential return of 149%.
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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