• This morning, both the dollar and the S&P 500 continue to rise on hopes for a goldilocks situation for the US economy whereby the economy improves steadily without too rapid an increase in rates.
• Elsewhere commodities continue to struggle, with oil still flirting with $50 and gold recovering only slightly from yesterday’s slump.
• The commodity reliant Australian dollar continues to struggle, while the NZD/USD looks a little chipper.
• Finally, the euro is still limp as a Grexit possibility still looms.
Coming up today:
• Today’s only item of note is UK public sector net borrowing at 09.30.
Trade Idea:
The Australian dollar continues to suffer as commodities fall out of favour. Another rate cut is not inconceivable to bring the Aussie economy back to life, a move that could see even more downside.
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.
Dollar Holds Highs Ahead of Fed
Morning Report: 07.00 London
• This morning, both the dollar and the S&P 500 continue to rise on hopes for a goldilocks situation for the US economy whereby the economy improves steadily without too rapid an increase in rates.
• Elsewhere commodities continue to struggle, with oil still flirting with $50 and gold recovering only slightly from yesterday’s slump.
• The commodity reliant Australian dollar continues to struggle, while the NZD/USD looks a little chipper.
• Finally, the euro is still limp as a Grexit possibility still looms.
Coming up today:
• Today’s only item of note is UK public sector net borrowing at 09.30.
Trade Idea:
The Australian dollar continues to suffer as commodities fall out of favour. Another rate cut is not inconceivable to bring the Aussie economy back to life, a move that could see even more downside.
A good way to play this is a LOWER trade predicting that the AUD/USD close below 0.7300 in 10 days time for a potential return of 166%.
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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