• This morning, the euro has barely moved overnight following the breakdown in the latest round of eurogroup meetings. The acrimony is largely expected it seems, with markets anticipating this sort of posturing and brinkmanship prior to a deal being made. In all likelihood this will come at the 11th hour, but for now markets seem to be confident that a deal will be done.
• Stock markets have slipped back, but this has been down to other factors as well as a historically negative bias for the day after President’s day. The dollar index remains below the 14 day moving average.
• Gold is the big mover, slipping back from the 1235 resistance line.
• The Australasian pairs continue to out perform, with the AUD/JPY up 0.33%
Coming up today: • Coming up today we have UK CPI and RPI at 09.30.
• This is followed by German ZEW economic sentiment.
• From 13.30 we switch to North America for Canadian Foreign Securities Purchases and US Empire State Manufacturing. US NAHB housing market index follows at 15.00.
Trade Idea:
• The AUD/JPY’s rise is coming at a time when the US dollar index is showing some vulnerability.
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.
Euro Holds Despite Latest Greek Impasse
Morning Report: 8.15 London
• This morning, the euro has barely moved overnight following the breakdown in the latest round of eurogroup meetings. The acrimony is largely expected it seems, with markets anticipating this sort of posturing and brinkmanship prior to a deal being made. In all likelihood this will come at the 11th hour, but for now markets seem to be confident that a deal will be done.
• Stock markets have slipped back, but this has been down to other factors as well as a historically negative bias for the day after President’s day. The dollar index remains below the 14 day moving average.
• Gold is the big mover, slipping back from the 1235 resistance line.
• The Australasian pairs continue to out perform, with the AUD/JPY up 0.33%
Coming up today:
• Coming up today we have UK CPI and RPI at 09.30.
• This is followed by German ZEW economic sentiment.
• From 13.30 we switch to North America for Canadian Foreign Securities Purchases and US Empire State Manufacturing. US NAHB housing market index follows at 15.00.
Trade Idea:
• The AUD/JPY’s rise is coming at a time when the US dollar index is showing some vulnerability.
This could lead to some short term upside and a good way to play this is a HIGHER trade predicting that the AUD/JPY will close ABOVE 93.00 in 7 days time for a potential return of 149%.
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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