• This morning, financial markets are stabilising after heavy selling throughout Friday. The S&P 500 continues to find support at the 100 day average, while the US dollar index nips back slightly.
• The NZD/USD is the biggest gainer, helped by the US dollar easing back slightly. The AUD/USD is lagging somewhat, up 0.23%.
• The euro and pound are recovering from Friday’s negative session, but there is some way to go to recover those losses fully.
• Elsewhere, the USD/JPY is slipping back in line with the dollar index’s pause.
Coming up today: • Coming up today we have Empire State Manufacturing Index at 12.30, followed by capacity utilisation and industrial production at 13.15.
• ECB president Draghi speaking is the main highlight at 18.45.
Trade Idea:
• Gold is nudging higher, but in the slightly longer term, the precious metal remains over sold.
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.
Support Holds After Friday Selling
Morning Report: 08.00 London
• This morning, financial markets are stabilising after heavy selling throughout Friday. The S&P 500 continues to find support at the 100 day average, while the US dollar index nips back slightly.
• The NZD/USD is the biggest gainer, helped by the US dollar easing back slightly. The AUD/USD is lagging somewhat, up 0.23%.
• The euro and pound are recovering from Friday’s negative session, but there is some way to go to recover those losses fully.
• Elsewhere, the USD/JPY is slipping back in line with the dollar index’s pause.
Coming up today:
• Coming up today we have Empire State Manufacturing Index at 12.30, followed by capacity utilisation and industrial production at 13.15.
• ECB president Draghi speaking is the main highlight at 18.45.
Trade Idea:
• Gold is nudging higher, but in the slightly longer term, the precious metal remains over sold.
A good way to play this is a HIGHER trade predicting that gold will close HIGHER than $1175 in 14 days time could return 141% 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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