• This morning, markets are still absorbing the impact of oil prices hitting a seven year low, while traders await tomorrow’s FOMC meeting results.
• The US dollar continues to back off, along with the USD/JPY as markets expect limited forward guidance from the Fed tomorrow.
• In contrast, the euro is holding firm as traders enjoy a benign dollar environment.
• By contrast, the Australian dollar is on the back foot after the release of the minutes from the latest RBA meeting.
Coming up today:
• Coming up today, we have UK CPI and RPI at 09.30, with a small increased expected. PPI input is expected to rise to 0.9%.
• From here we get German ZEW economic sentiment, released alongside the European figures.
• From 13.30, we switch to North America for Canadian manufacturing sales and US CPI data, released alongside Empire State manufacturing data.
• BOC governor Poloz speaks at 16.45.
Trade Idea:
• The Kiwi is ploughing its own (positive path) and while the Fed will garner all the attention tomorrow, the underlying strength of the NZD/USD is hard to ignore.
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.
Oil Hits Crisis Lows as Eyes on Fed
Morning Report: 06.30 London
• This morning, markets are still absorbing the impact of oil prices hitting a seven year low, while traders await tomorrow’s FOMC meeting results.
• The US dollar continues to back off, along with the USD/JPY as markets expect limited forward guidance from the Fed tomorrow.
• In contrast, the euro is holding firm as traders enjoy a benign dollar environment.
• By contrast, the Australian dollar is on the back foot after the release of the minutes from the latest RBA meeting.
Coming up today:
• Coming up today, we have UK CPI and RPI at 09.30, with a small increased expected. PPI input is expected to rise to 0.9%.
• From here we get German ZEW economic sentiment, released alongside the European figures.
• From 13.30, we switch to North America for Canadian manufacturing sales and US CPI data, released alongside Empire State manufacturing data.
• BOC governor Poloz speaks at 16.45.
Trade Idea:
• The Kiwi is ploughing its own (positive path) and while the Fed will garner all the attention tomorrow, the underlying strength of the NZD/USD is hard to ignore.
A good way to play this is a HIGHER trade predicting that the NZD/USD will close above 0.6850 in 14 days 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.
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