Euro Steady Ahead Of Eurogroup Meetings

Morning Report: 8.15 London

• This morning, the S&P 500 is nipping back after breaking to record highs on Friday’s close. At the same time, the dollar index is slipping back below the 14 day moving average for the third day in a row.
                                                                                                                                       

                               

• The euro is pushing higher, especially against the British pound. Today sees a crucial Eurogroup meeting as the latest round of Greek negotiations comes round.

                              

                               

• The New Zealand dollar is the big mover, up 0.66%. The AUD/USD is also nudging higher for the third day in a row.

• On a similar theme, gold is set for a hat-trick of gains. The key theme being the dollar index slipping back and allowing dollar pairs to climb.

                             

 Coming up today:

• The crucial eurogroup meetings run throughout the day.

• Volume could be light owing to the President’s day bank holiday.

Trade Idea:

• The NZD/USD continues to show relative strength, while the dollar index trickles lower.

                          

A good way to play this could be a HIGHER trade predicting that the NZD/USD will close above 0.7525 in 10 days for a potential return of 110% if successful.

                         

                              

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