• This morning, equity markets continue to slide sideways despite the ongoing disagreements over Greece and conflict in Ukraine. The S&P 500 is still within Tuesday’s range, while the dollar index remains below the 14 day moving average.
• The Australian dollar is out performing, helped by the dollar index under performing and a firming in commodity prices. The NZD/USD is rallying in sympathy.
• The euro is struggling by contrast as the latest round of Greek negotiations reaches crunch point.
• Gold continues to slide despite the US dollar offering weak resistance.
Coming up today: • Coming up today we have German flash manufacturing at 08.30, followed by European manufacturing PMI at 09.00.
• UK retail sales follow at 09.30, with public sector net borrowing due at the same time.
• The Eurogroup meetings are of course running throughout the day.
Trade Idea:
• The euro’s fate will be decided today, but it seems that the best case scenario may be a short term fix. Longer term, the euro’s fate is still uncertain, which could lead to more downside 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.
Markets Slide Sideways
Morning Report: 8.15 London
• This morning, equity markets continue to slide sideways despite the ongoing disagreements over Greece and conflict in Ukraine. The S&P 500 is still within Tuesday’s range, while the dollar index remains below the 14 day moving average.
• The Australian dollar is out performing, helped by the dollar index under performing and a firming in commodity prices. The NZD/USD is rallying in sympathy.
• The euro is struggling by contrast as the latest round of Greek negotiations reaches crunch point.
• Gold continues to slide despite the US dollar offering weak resistance.
Coming up today:
• Coming up today we have German flash manufacturing at 08.30, followed by European manufacturing PMI at 09.00.
• UK retail sales follow at 09.30, with public sector net borrowing due at the same time.
• The Eurogroup meetings are of course running throughout the day.
Trade Idea:
• The euro’s fate will be decided today, but it seems that the best case scenario may be a short term fix. Longer term, the euro’s fate is still uncertain, which could lead to more downside from here.
A good way to play this is a LOWER trade predicting that the EUR/GBP will close below 0.7300 in 7 days time for a potential return of 208%.
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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