• This morning, there are signs of a compromise for the two major risk factors troubling markets this week. A cease fire has been arranged in Ukraine, while there are positive noises coming from the Greek negotiations. In both cases, there is a healthy amount of scepticism, but financial markets are taking the bait, with the S&P 500 in touching distance of record highs.
• The dollar index is on the back foot and under pressure as the euro and yen fight back.
• The EUR/USD is on the rise again as Greek talks progress, but it’s the British pound that is setting the pace after yesterday’s BOE inflation report.
• The yen pairs are generally lower, though the likes of the GBP/JPY are fighting this trend.
• The Australian and New Zealand dollars are pushing higher again as the Aussie pulls back from the brink.
• Gold is again on the rise, but the precious metal’s down trend still remains.
Coming up today: • Coming up today we have European Flash GDP at 10.00.
• This is followed by Canadian manufacturing sales at 13.30 and US import prices at the same time.
• The EUR/GBP is looking stable as the euro is bolstered by the tentative steps made in the Greek negotiations. Yet, we’re still some way from a full solution, or indeed one that will finally solve Greece’s long term problems.
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.
Euro Rallies On Greece Progress
Morning Report: 8.15 London
• This morning, there are signs of a compromise for the two major risk factors troubling markets this week. A cease fire has been arranged in Ukraine, while there are positive noises coming from the Greek negotiations. In both cases, there is a healthy amount of scepticism, but financial markets are taking the bait, with the S&P 500 in touching distance of record highs.
• The dollar index is on the back foot and under pressure as the euro and yen fight back.
• The EUR/USD is on the rise again as Greek talks progress, but it’s the British pound that is setting the pace after yesterday’s BOE inflation report.
• The yen pairs are generally lower, though the likes of the GBP/JPY are fighting this trend.
• The Australian and New Zealand dollars are pushing higher again as the Aussie pulls back from the brink.
• Gold is again on the rise, but the precious metal’s down trend still remains.
Coming up today:
• Coming up today we have European Flash GDP at 10.00.
• This is followed by Canadian manufacturing sales at 13.30 and US import prices at the same time.
• US preliminary UoM consumer sentiment follow at 15.00.
Trade Idea:
• The EUR/GBP is looking stable as the euro is bolstered by the tentative steps made in the Greek negotiations. Yet, we’re still some way from a full solution, or indeed one that will finally solve Greece’s long term problems.
This could mean further downside for the EUR/GBP in the coming 7 days. A good way to play this is a LOWER trade predicting that the pair will close BELOW 0.7400 in 7 days for a potential return of 150%.
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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