• This morning, the Dollar pressure has continued, adding to the sizeable post-Fed losses seen this week. While the Dollar has suffered, oil prices have risen to their highest in many months – nudging firmly above the $40 marker.
• The release of the minutes from the last BOJ meeting have had minimal impact thus far, though there were some indications of the strong yen having a negative impact.
• The Pound enjoyed a strong day yesterday despite the Bank of England keeping rates on hold. A rate hike is still more likely than not in the next two years and that’s the message that markets appear to have taken from yesterday.
• Other Dollar pairs have had a positive session, with commodity related currencies such as the Aussie dollar performing well.
Coming up today:
• At midday we get Canadian core CPI and retail sales.
• This is followed by FOMC member Dudley speaking at 13.00.
• US preliminary UoM consumer sentiment follows at 14.00.
• From 15.00 we have further Fed speak with FOMC member Rosengren and Bullard speaking at 18.00.
Trade Idea:
• Oil prices continue to show some stability, while the US dollar weakens on a consistent basis.
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 Pressure Mounts
Morning Report: 06.30 London
• This morning, the Dollar pressure has continued, adding to the sizeable post-Fed losses seen this week. While the Dollar has suffered, oil prices have risen to their highest in many months – nudging firmly above the $40 marker.
• The release of the minutes from the last BOJ meeting have had minimal impact thus far, though there were some indications of the strong yen having a negative impact.
• The Pound enjoyed a strong day yesterday despite the Bank of England keeping rates on hold. A rate hike is still more likely than not in the next two years and that’s the message that markets appear to have taken from yesterday.
• Other Dollar pairs have had a positive session, with commodity related currencies such as the Aussie dollar performing well.
Coming up today:
• At midday we get Canadian core CPI and retail sales.
• This is followed by FOMC member Dudley speaking at 13.00.
• US preliminary UoM consumer sentiment follows at 14.00.
• From 15.00 we have further Fed speak with FOMC member Rosengren and Bullard speaking at 18.00.
Trade Idea:
• Oil prices continue to show some stability, while the US dollar weakens on a consistent basis.
• The USD/CAD slipped lower again yesterday and there could be more downside to come.
A good way to play this is a LOWER trade predicting that the USD/CAD will close below 1.2900 in 10 days time for a potential return of 177%.
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.
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