• This morning, the US dollar remains unchanged after a positive session yesterday. The move is part of the ongoing preference for safety following lackluster US unemployment claims yesterday.
• Markets are generally lacking a strong trend though as typified by oil prices which rose sharply yesterday, but only to test highs made days ago.
• The yen pairs remain pressured, but the May recovery remains largely on track.
• The pound came under pressure yesterday to the euro as Brexit uncertainty tipped the balance of the EUR/GBP into the negative. Most recently the EUR/GBP is typifying the back and fill trading environment at the moment.
Coming up today:
• Coming up today we have European flash GDP at 10.00, with MPC member Haldane speaking at the same time. Haldane also speaks at 13.30.
• Following this we have US retail sales and PPI at 13.30, followed by preliminary UoM consumer sentiment at 15.00.
Trade Idea:
• Brexit uncertainty remains, but the pound is generally holding its end well. The same cannot be said of the Australian dollar, as the GBP/AUD climbs ever higher.
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.
US Economy Remains Sluggish
Morning Report: 06.30 London
• This morning, the US dollar remains unchanged after a positive session yesterday. The move is part of the ongoing preference for safety following lackluster US unemployment claims yesterday.
• Markets are generally lacking a strong trend though as typified by oil prices which rose sharply yesterday, but only to test highs made days ago.
• The yen pairs remain pressured, but the May recovery remains largely on track.
• The pound came under pressure yesterday to the euro as Brexit uncertainty tipped the balance of the EUR/GBP into the negative. Most recently the EUR/GBP is typifying the back and fill trading environment at the moment.
Coming up today:
• Coming up today we have European flash GDP at 10.00, with MPC member Haldane speaking at the same time. Haldane also speaks at 13.30.
• Following this we have US retail sales and PPI at 13.30, followed by preliminary UoM consumer sentiment at 15.00.
Trade Idea:
• Brexit uncertainty remains, but the pound is generally holding its end well. The same cannot be said of the Australian dollar, as the GBP/AUD climbs ever higher.
With more upside potential, the best way to play this is a HIGHER trade predicting that the GBP/AUD will close above 1.985 in 10 days time for a potential return of 119%.
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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