• Markets are mixed this morning as the S&P 500 holds at the highs, while the dollar index maintains its recent strong run.
• This strength is putting pressure on the Australian dollar as traders made a bearish interpretation of the latest RBA minutes.
• The AUD/USD and indeed NZD/USD are under pressure despite Chinese data coming in above estimates.
• Elsewhere, gold is steadying itself after yesterday’s heavy falls.
• The British pound is losing out the euro, with the EUR/ GBP continuing its strong run.
Coming up today:
• We’ve an extremely busy day ahead today, starting with UK CPI and RPI data at 09.30. Carney speaks at 10.00. • Following this we have German and European ZEW released at 10.00. • From 13.30, we switch to the US for Core retail sales, followed by Fed Chair Yellen testifying at 15.00.
Trade Idea:
• Silver rapidly reversed its bullish move yesterday to bring it slap back in the middle of its trading range once again. This reversal is not enough to make the precious metal over sold and neither is it over bought. • The flash of volatility could be a good signal to re-enter any range trades. This makes an IN/ OUT trade attractive.
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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Dollar Puts Pressure On
Morning Report: 08.15 London
• Markets are mixed this morning as the S&P 500 holds at the highs, while the dollar index maintains its recent strong run.
• This strength is putting pressure on the Australian dollar as traders made a bearish interpretation of the latest RBA minutes.
• The AUD/USD and indeed NZD/USD are under pressure despite Chinese data coming in above estimates.
• Elsewhere, gold is steadying itself after yesterday’s heavy falls.
• The British pound is losing out the euro, with the EUR/ GBP continuing its strong run.
Coming up today:
• We’ve an extremely busy day ahead today, starting with UK CPI and RPI data at 09.30. Carney speaks at 10.00.
• Following this we have German and European ZEW released at 10.00.
• From 13.30, we switch to the US for Core retail sales, followed by Fed Chair Yellen testifying at 15.00.
Trade Idea:
• Silver rapidly reversed its bullish move yesterday to bring it slap back in the middle of its trading range once again. This reversal is not enough to make the precious metal over sold and neither is it over bought.
• The flash of volatility could be a good signal to re-enter any range trades. This makes an IN/ OUT trade attractive.
An IN/OUT trade predicting that silver will close between 21.25 and 20.75 in 7 days time could return 108% if successful.
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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Summary:
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