• This morning markets are mixed and buffeted by various cross winds ahead of the released of the minutes from the last Fed meetings. The Euro is showing a modicum of strength after further selling yesterday. Stock markets may have staged a so called ‘patriot’ rally, but forex markets are still showing their amoral tendencies with the Euro still yet to regain its losses from the weekend.
• The Australian Dollar by contrast is showing some weakness as over head resistance looms.
• The US Dollar is losing out to the Yen, while the Dollar index remains largely unchanged.
• Gold is still sitting at the bottom of its recent run as the brief safe haven rush is quickly overturned.
Coming up today:
• Coming up today we have FOMC member Dudley speaking at 13.00, followed by building permits at 13.30 and housing starts. Crude inventories follow at 15.30, with the main ticket being the release of the minutes from the last FOMC meeting.
Trade Idea:
• Today’s FOMC meeting minutes could provide another opportunity for the Dollar index to break the highs on the USD/JPY. This morning’s pause may just be that, with further upside potentially on the horizon.
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 Eye Fed Minutes
Morning Report: 06.15 London
• This morning markets are mixed and buffeted by various cross winds ahead of the released of the minutes from the last Fed meetings. The Euro is showing a modicum of strength after further selling yesterday. Stock markets may have staged a so called ‘patriot’ rally, but forex markets are still showing their amoral tendencies with the Euro still yet to regain its losses from the weekend.
• The Australian Dollar by contrast is showing some weakness as over head resistance looms.
• The US Dollar is losing out to the Yen, while the Dollar index remains largely unchanged.
• Gold is still sitting at the bottom of its recent run as the brief safe haven rush is quickly overturned.
Coming up today:
• Coming up today we have FOMC member Dudley speaking at 13.00, followed by building permits at 13.30 and housing starts. Crude inventories follow at 15.30, with the main ticket being the release of the minutes from the last FOMC meeting.
Trade Idea:
• Today’s FOMC meeting minutes could provide another opportunity for the Dollar index to break the highs on the USD/JPY. This morning’s pause may just be that, with further upside potentially on the horizon.
A good way to play this is a HIGHER trade predicting that the USD/JPY will close above 124.00 in 20 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.
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