• This morning, the S&P 500 is continuing to trade within a tight range, slowly working off recent over bought conditions. The dollar index is slipping lower, but still holding around the highs.
• The British pound continues to under perform its peers, following yesterday’s disappointing unemployment and claimant count change data. The pound is stabilising this morning, but is still under performing the euro.
• The yen pairs are generally holding around the highs though after senior officials confirmed snap elections.
• Elsewhere, gold and silver continue to unwind after Friday’s isolated rally.
Coming up today: • Coming up today, we have US unemployment claims at 13.30 as the day’s main economic item. JOLTS job openings follow at 15.00. Trade Idea:
• The EUR/GBP has rallied heavily these last two days, but the pounds under performance could be an opportunity to trade the retrace. The pound may be under performing, but the euro is hardly rock solid at present.
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.
Pound Stumbles After Employment Miss
Morning Report: 08.30 London
• This morning, the S&P 500 is continuing to trade within a tight range, slowly working off recent over bought conditions. The dollar index is slipping lower, but still holding around the highs.
• The British pound continues to under perform its peers, following yesterday’s disappointing unemployment and claimant count change data. The pound is stabilising this morning, but is still under performing the euro.
• The yen pairs are generally holding around the highs though after senior officials confirmed snap elections.
• Elsewhere, gold and silver continue to unwind after Friday’s isolated rally.
Coming up today:
• Coming up today, we have US unemployment claims at 13.30 as the day’s main economic item. JOLTS job openings follow at 15.00.
Trade Idea:
• The EUR/GBP has rallied heavily these last two days, but the pounds under performance could be an opportunity to trade the retrace. The pound may be under performing, but the euro is hardly rock solid at present.
A good way to play this is a LOWER trade predicting that the EUR/GBP will close below 0.7875 in 12 days time for a potential return of 146%.
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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