• This morning, financial markets are stable after yesterday’s Fed induced sell-off. The minutes of the latest Fed meeting hinted that a rate hike that was anticipated for June may now appear in late 2015, perhaps 2016 as the US economy falters.
• The US dollar held up relatively well in the face of this news however.
• The big movers is the NZD/USD after this morning’s annual budget release. The AUD/USD is rallying in sympathy.
• Elsewhere, the euro is recovering ground after days of under performance, especially against the British pound.
• Finally, the USD/JPY is nipping back after a three day spike higher.
Coming up today:
• Coming up today we have French Flash Manufacturing PMI at 08.00, followed by German data at 08.30 and Europe wide data at 09.00. Services PMI data is released at the same time.
• UK retail sales are released at 09.30
• At 12.30 we have the release of the accounts from the last ECB policy meeting.
• From 13.30 we switch to the US for unemployment claims followed by flash manufacturing PMI at 14.45.
• Then from 15.00 we get US existing home sales and Philly Fed manufacturing index. Trade Idea:
• The euro is still weighed down by the ongoing Greek negotiations, but the pound is no bed of roses with the disruption caused by the EU referendum.
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 Dip as Fed Doubts Emerge
Morning Report: 09.00 London
• This morning, financial markets are stable after yesterday’s Fed induced sell-off. The minutes of the latest Fed meeting hinted that a rate hike that was anticipated for June may now appear in late 2015, perhaps 2016 as the US economy falters.
• The US dollar held up relatively well in the face of this news however.
• The big movers is the NZD/USD after this morning’s annual budget release. The AUD/USD is rallying in sympathy.
• Elsewhere, the euro is recovering ground after days of under performance, especially against the British pound.
• Finally, the USD/JPY is nipping back after a three day spike higher.
Coming up today:
• Coming up today we have French Flash Manufacturing PMI at 08.00, followed by German data at 08.30 and Europe wide data at 09.00. Services PMI data is released at the same time.
• UK retail sales are released at 09.30
• At 12.30 we have the release of the accounts from the last ECB policy meeting.
• From 13.30 we switch to the US for unemployment claims followed by flash manufacturing PMI at 14.45.
• Then from 15.00 we get US existing home sales and Philly Fed manufacturing index.
Trade Idea:
• The euro is still weighed down by the ongoing Greek negotiations, but the pound is no bed of roses with the disruption caused by the EU referendum.
• Support is looming for the EUR/GBP and we could see a reverse of trend from here.
A good way to play this is a HIGHER trade predicting that the EUR/GBP will close above 0.7200 in 7 days time for a potential return of 182% 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.
Summary:
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