• This morning, the US dollar is still in neutral mode and selling off yesterday despite better than expected Philly Fed data and inline unemployment claims. It seems to be more of a case of markets adjusting after Monday’s safe haven move.
• Elsewhere, the Australian and New Zealand dollar continue to set the pace with further (moderate) gains this morning.
• The USD/JPY is also slipping lower after yesterday’s selling.
Coming up today:
• Coming up today we have ECB President Draghi speaking at 08.00. German Buba President Weidmann speaks at 10.15.
• This is followed by UK public sector net borrowing at 09.30.
• Canada is in focus at 13.30 with CPI and retail sales.
Trade Idea:
• The British pound has quietly held its ground since the earlier sell off in the month. The interest rate time line might have stretched a little further into the future and the US a little closer, but the positive trend generally remains.
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.
Strong US Data Fails to Lift Dollar
Morning Report: 06.15 London
• This morning, the US dollar is still in neutral mode and selling off yesterday despite better than expected Philly Fed data and inline unemployment claims. It seems to be more of a case of markets adjusting after Monday’s safe haven move.
• Elsewhere, the Australian and New Zealand dollar continue to set the pace with further (moderate) gains this morning.
• The USD/JPY is also slipping lower after yesterday’s selling.
Coming up today:
• Coming up today we have ECB President Draghi speaking at 08.00. German Buba President Weidmann speaks at 10.15.
• This is followed by UK public sector net borrowing at 09.30.
• Canada is in focus at 13.30 with CPI and retail sales.
Trade Idea:
• The British pound has quietly held its ground since the earlier sell off in the month. The interest rate time line might have stretched a little further into the future and the US a little closer, but the positive trend generally remains.
A good way to play this is a HIGHER trade predicting that the GBP/USD will close above 1.5300 in 10 days time could return 103% 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.
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