• This morning, the S&P 500 is poised to break through to record highs as the US economy and interest rate expectations reach a comfortable alignment for stocks. The economy is slowing just enough to push interest rate hike expectations into the future, while the slowdown is so far not hinting at an alarming slide back into recession.
• While stocks rise, the US dollar his found some support after a week of heavy selling.
• The big mover this morning is the NZD/USD, off by 0.34% as milk giant Fonterra cuts its forecasts. The AUD/USD is dropping in sympathy.
• The pound is showing some out performance, especially against the euro which today is being bogged down by Greek negotiations.
• The pound’s strength is best seen against the yen with the GBP/JPY up 0.23% – a move helped by the USD/JPY rising 0.21%.
Coming up today:
• Coming up today we have Canadian manufacturing Sales at 13.30, released alongside US empire state manufacturing.
• Following this we have US capacity utilisation and industrial production at 14.15. Preliminary UoM consumer sentiment follows at 15.00. Trade Idea:
• The USD/JPY has been stuck in an ugly range for much of the last two months with no real breakout in sight. A continuation of this stalemate looks a good bet.
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.
Markets Set For Record High
Morning Report: 09.00 London
• This morning, the S&P 500 is poised to break through to record highs as the US economy and interest rate expectations reach a comfortable alignment for stocks. The economy is slowing just enough to push interest rate hike expectations into the future, while the slowdown is so far not hinting at an alarming slide back into recession.
• While stocks rise, the US dollar his found some support after a week of heavy selling.
• The big mover this morning is the NZD/USD, off by 0.34% as milk giant Fonterra cuts its forecasts. The AUD/USD is dropping in sympathy.
• The pound is showing some out performance, especially against the euro which today is being bogged down by Greek negotiations.
• The pound’s strength is best seen against the yen with the GBP/JPY up 0.23% – a move helped by the USD/JPY rising 0.21%.
Coming up today:
• Coming up today we have Canadian manufacturing Sales at 13.30, released alongside US empire state manufacturing.
• Following this we have US capacity utilisation and industrial production at 14.15. Preliminary UoM consumer sentiment follows at 15.00.
Trade Idea:
• The USD/JPY has been stuck in an ugly range for much of the last two months with no real breakout in sight. A continuation of this stalemate looks a good bet.
A good way to play this is an IN/OUT trade predicting that the USD/JPY closes between 120.50 and 118.50 in 20 days time (June 4th) could return 105% 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. 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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