Commodity currencies hit by Iran

Morning Report: 08.30 London

• This morning, commodities and the main commodity currencies are under pressure after the weekend’s Iran deal. Gold is off by around 0.78%, while the USD/CAD rallies around 0.40%. The Aussie is also under pressure.

• The yen continues to weaken, helping Japanese exporters, while the dollar index generally remains on its upwards path.

Coming up today:

• Coming up today we have UK BBA mortgage approvals at 09.30.

• This is followed by US pending home sales at 15.00.

Trade Idea:

• The NZD/USD has been unaffected by the morning’s commodity dump and showing some fight around support levels.

• As such there may be upside from here, but given recent volatility, a ONE TOUCH trade may be best.

• A ONE TOUCH trade predicting that the NZD/USD will TOUCH 0.8305 before Wednesday’s close could return 140%.

This Daily Market Report is written by Dave Evans, Professional Trader. This is presented as an idea to stimulate binary option trading ideas and is not a financial advice.

Summary:

PLACE A TRADE NOW

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