• This morning, the dollar is nipping back slightly after three days of gains this week. By contrast, the S&P 500 is on the rise after heavy selling yesterday.
• The euro is stable this morning against the dollar and pound despite negotiations stumbling back and forth.
• The Australian and New Zealand dollar are the bigger movers this morning as both currencies lift themselves off the lows.
Coming up today:
• Coming up today we have another round of eurogroup meetings alongside of the EU economic summit.
• Following this we have unemployment claims at 13.30, released alongside core PCE price index and personal spending.
• FOMC member Powell speaks at 14.45.
Trade Idea:
The USD/CAD has been creeping higher and building strong momentum behind the scenes. The dollar is pausing today, but the trend is pointing higher. Oil prices still haven’t broken higher and every day that crude prices remain below $75, is a day that is hurting the Canadian economy.
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.
Euro Stable As Negotiations Crawl
Morning Report: 07.30 London
• This morning, the dollar is nipping back slightly after three days of gains this week. By contrast, the S&P 500 is on the rise after heavy selling yesterday.
• The euro is stable this morning against the dollar and pound despite negotiations stumbling back and forth.
• The Australian and New Zealand dollar are the bigger movers this morning as both currencies lift themselves off the lows.
Coming up today:
• Coming up today we have another round of eurogroup meetings alongside of the EU economic summit.
• Following this we have unemployment claims at 13.30, released alongside core PCE price index and personal spending.
• FOMC member Powell speaks at 14.45.
Trade Idea:
The USD/CAD has been creeping higher and building strong momentum behind the scenes. The dollar is pausing today, but the trend is pointing higher. Oil prices still haven’t broken higher and every day that crude prices remain below $75, is a day that is hurting the Canadian economy.
As such, there could be more upside ahead for the USD/CAD. A good way to play this is a HIGHER trade predicting that the USD/CAD will close above 1.2450 in 28 days time for a potential return of 147%.
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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