• This morning, markets are reacting to a relatively dovish FOMC statement and the ongoing melodrama surrounding the Greek debt negotiations. Stock markets have continued their ugly/ volatile trading range.
• The Dollar slipped again last night on the back of last night’s Fed meeting.
• The Dollar pairs are nudging back slightly this morning after powerful gains yesterday. These gains have been led by the British Pound after strong earnings data. The Euro is lagging but not my as much as we might expected given the headlines coming out of Greece.
• It’s a similar pattern on the Yen pairs, with the GBP/JPY making solid gains yesterday.
Coming up today:
• Coming up today we have the Swiss libor rate and press conference at 08.30.
• This is followed by UK retail sales at 09.30.
• The targeted LTRO rate follows at 10.15, released with the euro group meetings running the background.
• US CPI follows at 13.30 alongside unemployment claims. Philly Fed follows at 15.00.
Trade Idea:
While most Dollar pairs main heavy gains yesterday, the NZD/USD sunk on the back of poor GDP figures. This relative weakness is hard to ignore and could point to further downside.
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.
Dollar Holds Highs
Ahead of Fed
Morning Report: 06.00 London
• This morning, markets are reacting to a relatively dovish FOMC statement and the ongoing melodrama surrounding the Greek debt negotiations. Stock markets have continued their ugly/ volatile trading range.
• The Dollar slipped again last night on the back of last night’s Fed meeting.
• The Dollar pairs are nudging back slightly this morning after powerful gains yesterday. These gains have been led by the British Pound after strong earnings data. The Euro is lagging but not my as much as we might expected given the headlines coming out of Greece.
• It’s a similar pattern on the Yen pairs, with the GBP/JPY making solid gains yesterday.
Coming up today:
• Coming up today we have the Swiss libor rate and press conference at 08.30.
• This is followed by UK retail sales at 09.30.
• The targeted LTRO rate follows at 10.15, released with the euro group meetings running the background.
• US CPI follows at 13.30 alongside unemployment claims. Philly Fed follows at 15.00.
Trade Idea:
While most Dollar pairs main heavy gains yesterday, the NZD/USD sunk on the back of poor GDP figures. This relative weakness is hard to ignore and could point to further downside.
A good way to play this is a LOWER trade predicting that the NZD/ USD closes below 0.6850 in 7 days time for a potential return of 157%.
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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