• This morning, we’ve yet another important deadline ahead for Greece with the Eurogroup meeting to approve the interim reform program. As well as this we have the MPC inflation report hearings, ECB president Draghi speaking and an all important testimony from Fed chair Yellen. It’s a day when economic news will play 2nd fiddle to institutional developments.
• The S&P 500 is holding at the highs while the US dollar index is right on the 14 day moving average.
• Commodities are on the back burner again, hitting Australasian pairs. The NZD/USD is down 0.74%, with the AUD/USD down 0.39%.
• The USD/CAD is higher again as oil dips below $50.00.
• The yen pairs are on the rise as the dollar index strengthens its position.
• The euro continues to underperform however.
Coming up today: • Coming up today we have MPC member Forbes speaking at 09.10 ahead of the inflation report hearing at 10.00.
• In Europe we have final CPI at 10.00 and ECB president Draghi speaking at 14.00. Eurogroup meetings meet throughout the day.
• From 15.00, we have US CB consumer confidence and Fed chair Yellen testifying before congress at the same time.
Trade Idea:
• The EUR/GBP continues to weaken and this is unlikely to change soon, even with an approval of Greek approval plans today.
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 Waiting For Approval
Morning Report: 8.15 London
• This morning, we’ve yet another important deadline ahead for Greece with the Eurogroup meeting to approve the interim reform program. As well as this we have the MPC inflation report hearings, ECB president Draghi speaking and an all important testimony from Fed chair Yellen. It’s a day when economic news will play 2nd fiddle to institutional developments.
• The S&P 500 is holding at the highs while the US dollar index is right on the 14 day moving average.
• Commodities are on the back burner again, hitting Australasian pairs. The NZD/USD is down 0.74%, with the AUD/USD down 0.39%.
• The USD/CAD is higher again as oil dips below $50.00.
• The yen pairs are on the rise as the dollar index strengthens its position.
• The euro continues to underperform however.
Coming up today:
• Coming up today we have MPC member Forbes speaking at 09.10 ahead of the inflation report hearing at 10.00.
• In Europe we have final CPI at 10.00 and ECB president Draghi speaking at 14.00. Eurogroup meetings meet throughout the day.
• From 15.00, we have US CB consumer confidence and Fed chair Yellen testifying before congress at the same time.
Trade Idea:
• The EUR/GBP continues to weaken and this is unlikely to change soon, even with an approval of Greek approval plans today.
A good way to play this is a LOWER trade predicting that the EUR/GBP will close below 0.7300 for a potential return of 129%.
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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