• This morning, Gold has hit a five year low of $1,070 before recovering to above $1,000. The move has been put down to speculation over a US rate hike, but this is unlikely to be the only catalyst with the dollar barely moving this morning.
• The dollar index is unchanged, with the S&P 500 sitting just below the June highs.
• The NZD/USD is rebounding for the first time in many sessions after comments from officials including the PM that the Kiwi collapses has been quicker than expected.
Coming up today:
• Coming up today, we have a quiet morning followed by Canadian wholesale sales at 13.30.
Trade Idea:
For the first time in many weeks, the euro has opened up on Monday without an opening gap lower. Rather than being a buy signal, this could be an opportunity to take bearish bets. The eurozone crisis will rumble on until authorities make the hard choices required for a long term solution.
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.
Gold Collapses on Fed Hike Speculation
Morning Report: 07.00 London
• This morning, Gold has hit a five year low of $1,070 before recovering to above $1,000. The move has been put down to speculation over a US rate hike, but this is unlikely to be the only catalyst with the dollar barely moving this morning.
• The dollar index is unchanged, with the S&P 500 sitting just below the June highs.
• The NZD/USD is rebounding for the first time in many sessions after comments from officials including the PM that the Kiwi collapses has been quicker than expected.
Coming up today:
• Coming up today, we have a quiet morning followed by Canadian wholesale sales at 13.30.
Trade Idea:
For the first time in many weeks, the euro has opened up on Monday without an opening gap lower. Rather than being a buy signal, this could be an opportunity to take bearish bets. The eurozone crisis will rumble on until authorities make the hard choices required for a long term solution.
A good way to play this is a LOWER trade predicting that the EUR/USD will close below 1.0600 in 35 days for a potential return of 300%.
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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