• This morning, the S&P 500 is holding at record highs despite the Ukraine peace agreement crumbling and Greece facing yet another crucial deadline.
• The euro is slipping back, but generally the single currency is holding up well despite the ongoing Greek negotiations.
• Yen pairs are nipping back to a minor degree, while the US dollar index continues to struggle below the 14 day moving average. This morning’s BOJ press conference sprung no surprises despite previous rumours of a more hawkish approach.
Coming up today: • Coming up today we have UK average earnings and claimant count data all released alongside the MPC official bank rate votes.
• Following this we have US building permits and PPI, alongside housing starts. Canadian Wholesale sales are released at the same time – 13.30.
• Following this we have US capacity utilisation and industrial production at 14.15, with the big ticket being the release of the FOMC meeting minutes at 19.00.
Trade Idea:
• Gold continues to slide, but so far is not flashing green for significantly over sold. I.e. This down trend has not yet reached extreme levels and there could be more downside to come.
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 Hold Highs Despite Ukraine Unrest
Morning Report: 8.15 London
• This morning, the S&P 500 is holding at record highs despite the Ukraine peace agreement crumbling and Greece facing yet another crucial deadline.
• The euro is slipping back, but generally the single currency is holding up well despite the ongoing Greek negotiations.
• Yen pairs are nipping back to a minor degree, while the US dollar index continues to struggle below the 14 day moving average. This morning’s BOJ press conference sprung no surprises despite previous rumours of a more hawkish approach.
Coming up today:
• Coming up today we have UK average earnings and claimant count data all released alongside the MPC official bank rate votes.
• Following this we have US building permits and PPI, alongside housing starts. Canadian Wholesale sales are released at the same time – 13.30.
• Following this we have US capacity utilisation and industrial production at 14.15, with the big ticket being the release of the FOMC meeting minutes at 19.00.
Trade Idea:
• Gold continues to slide, but so far is not flashing green for significantly over sold. I.e. This down trend has not yet reached extreme levels and there could be more downside to come.
A good way to play this could be a LOWER trade predicting that gold closes below $1200 in 7 days time for a potential return of 158%.
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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