• As a further sign of market’s indifference to the Greek crisis over the last two weeks, the Greek parliament passed their debt deal without a ripple of reaction over night. The EUR/USD has nudged higher slightly, but otherwise the euro remains trendless.
• The S&P 500 maintains a positive bias however, rallying to close off half of Tuesday’s losses.
• The dollar index remains elevated, with the 14 period moving average holding.
• Gold is rebounding for the first time in many days, but oil has dropped below $50 for the first time since March.
• The move is hurting the likes of the Canadian dollar further with tar sands hemorrhaging revenue.
Coming up today:
• Coming up today, we have Spanish unemployment rate at 08.00, with a figure around 22.8% forecast.
• UK retail sales follow at 09.30.
• Canadian retail sales are released at 13.30 at the same time as the latest US unemployment claims.
Trade Idea:
The Canadian dollar continues to wilt under the pressure of low oil prices, while the British pound holds safer ground for now.
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.
Greece Passes Debt Vote – Markets Yawn
Morning Report: 07.00 London
• As a further sign of market’s indifference to the Greek crisis over the last two weeks, the Greek parliament passed their debt deal without a ripple of reaction over night. The EUR/USD has nudged higher slightly, but otherwise the euro remains trendless.
• The S&P 500 maintains a positive bias however, rallying to close off half of Tuesday’s losses.
• The dollar index remains elevated, with the 14 period moving average holding.
• Gold is rebounding for the first time in many days, but oil has dropped below $50 for the first time since March.
• The move is hurting the likes of the Canadian dollar further with tar sands hemorrhaging revenue.
Coming up today:
• Coming up today, we have Spanish unemployment rate at 08.00, with a figure around 22.8% forecast.
• UK retail sales follow at 09.30.
• Canadian retail sales are released at 13.30 at the same time as the latest US unemployment claims.
Trade Idea:
The Canadian dollar continues to wilt under the pressure of low oil prices, while the British pound holds safer ground for now.
A good way to play this situation is a HIGHER trade on the GBP/CAD predicting that the pair will close higher than 2.0500 in 35 days time for a potential return of 145%.
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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