• This morning, the euro is slipping back after Greek negotiations hit a bigger blockage over the weekend. There were low expectations of a deal being done before June 1st, but many analysts pointed to an agreement at least being reached before default. The pendulum appears to have swung back towards the glass half empty in this however after Greek Prime Minister Tsipras stated that bailout monitors had been making ‘absurd’ demands. The EUR/JPY is down 0.45%.
• Elsewhere, the Australian and New Zealand dollars are performing well after strong Chinese data.
• The US dollar is nipping back slightly, while the S&P 500 recovers from the latest sell off.
Coming up today:
• Coming up today we have UK manufacturing PMI at 09.30.
• This is followed by US PCE price index at 13.30, released alongside personal spending.
• Following this we get FOMC member Fischer speaking at 14.30, followed by ISM manufacturing PMI at 15.00.
Trade Idea:
• We’re seeing a counter trend move on the AUD/USD this morning on a day when the dollar takes the pressure off. The momentum is still firmly behind the US dollar though which could lead to further downside for the AUD/USD from here.
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 Slips Greek Impasse
Morning Report: 07.00 London
• This morning, the euro is slipping back after Greek negotiations hit a bigger blockage over the weekend. There were low expectations of a deal being done before June 1st, but many analysts pointed to an agreement at least being reached before default. The pendulum appears to have swung back towards the glass half empty in this however after Greek Prime Minister Tsipras stated that bailout monitors had been making ‘absurd’ demands. The EUR/JPY is down 0.45%.
• Elsewhere, the Australian and New Zealand dollars are performing well after strong Chinese data.
• The US dollar is nipping back slightly, while the S&P 500 recovers from the latest sell off.
Coming up today:
• Coming up today we have UK manufacturing PMI at 09.30.
• This is followed by US PCE price index at 13.30, released alongside personal spending.
• Following this we get FOMC member Fischer speaking at 14.30, followed by ISM manufacturing PMI at 15.00.
Trade Idea:
• We’re seeing a counter trend move on the AUD/USD this morning on a day when the dollar takes the pressure off. The momentum is still firmly behind the US dollar though which could lead to further downside for the AUD/USD from here.
A good way to play this is a LOWER trade predicting that the AUD/USD closes below 0.7600 in 7 days for a potential return of 168%.
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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