• This morning, the British Pound is holding most of yesterday’s again after CPI and Core CPI both came in above expectations with PPI dropping less than expected. A UK rate hike has been on the horizon for some time, but yesterday’s data helped push this a little closer to the present.
• The big winner has been Gold, with the precious metal putting an impressive run together over the last couple of days.
• The strong Euro is partly behind and partly fueled by the weak dollar after Germany’s Bundestag approved the latest Greek bailout deal.
• The New Zealand Dollar is also enjoying the Dollar taking its foot off the gas, while the AUD/USD lags.
• While Gold enjoys some interest, oil prices continue to suffer, with Brent Crude dropping further this morning.
Coming up today:
• Coming up today, we have UK retail sales at 09.30 with a 0.4% improvement expected.
• Following this we have a trio of releases with US unemployment claims, existing home sales and Philly Fed at 15.00.
Trade Idea:
• The Pound has lagged these last two days, but the Canadian Dollar is still weighed down by the ongoing weakness in oil prices. The GBP/CAD isn’t the most headline grabbing forex pair, but it has been a fairly consistent winner over the last few weeks.
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.
Soft Dollar Helps Gold Shine
Morning Report: 07.00 London
• This morning, the British Pound is holding most of yesterday’s again after CPI and Core CPI both came in above expectations with PPI dropping less than expected. A UK rate hike has been on the horizon for some time, but yesterday’s data helped push this a little closer to the present.
• The big winner has been Gold, with the precious metal putting an impressive run together over the last couple of days.
• The strong Euro is partly behind and partly fueled by the weak dollar after Germany’s Bundestag approved the latest Greek bailout deal.
• The New Zealand Dollar is also enjoying the Dollar taking its foot off the gas, while the AUD/USD lags.
• While Gold enjoys some interest, oil prices continue to suffer, with Brent Crude dropping further this morning.
Coming up today:
• Coming up today, we have UK retail sales at 09.30 with a 0.4% improvement expected.
• Following this we have a trio of releases with US unemployment claims, existing home sales and Philly Fed at 15.00.
Trade Idea:
• The Pound has lagged these last two days, but the Canadian Dollar is still weighed down by the ongoing weakness in oil prices. The GBP/CAD isn’t the most headline grabbing forex pair, but it has been a fairly consistent winner over the last few weeks.
A good way to play this is a HIGHER trade predicting that the GBP/ CAD will close above 2.0800 in 20 days time could return 195% if successful.
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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