US Manufacturing Gives Cause for Concern

Morning Report: 06.30 London

• This morning, the US dollar is holding recent gains despite below par US manufacturing data yesterday. Philly Fed Manufacturing dropped unexpectedly while unemployment claims came in marginally above estimates.

• The USD/JPY fell back on the news yesterday but is climbing higher this morning.

• Currency markets remain generally quiet with the likes of the EUR/USD unchanged so far this morning.

                                                                                                                                                                                                                                                                                                                        
Coming up today:

• Coming up today we have UK CBI order expectations.

• This is followed by Canadian core CPI and retail sales at 13.30.

• US existing home sales follow at 15.00.

Trade Idea:

• The British pound continues to show impressive performance against the euro and other currencies, underlined by yesterday’s retail sale.

                     

A good way to play this is an ONE TOUCH trade predicting that the EUR/GBP will touch 0.7575 within the next 10 days could return 115% if success.

                          
                                                         

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.