• This morning, stock markets are backing off and the dollar index slipping back as traders take stock of the news that the ECB could result to Quantitative Easing. The stock market’s boost has been short term, while the dollar index is slipping back to challenge Friday’s highs.
• The euro is rallying, though has some way to go to recover Monday’s opening gap losses. Losses from here could be limited as there has been long term speculation about ECB Easing.
• Gold and silver are the big movers as the precious metals take advantage of the slightly weaker dollar.
• Elsewhere, the dollar’s retreat is helping the USD/JPY to slip back from the highs.
Coming up today:
• Coming up today we have US cure durable goods orders at 13.30, followed by CB consumer confidence at 15.00.
Trade Idea:
• The lack of significant selling following the ECB’s announcement that it is considering Quantitative Easing, implies that markets had already anticipated such a move. In addition, there is a huge difference between talking about action and actually initiating it. The ECB has a history of letting its talking do the action, which could mean we’re waiting some time before Easing comes to fruition.
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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Euro Recovers It’s Poise
Morning Report: 09.00 London
• This morning, stock markets are backing off and the dollar index slipping back as traders take stock of the news that the ECB could result to Quantitative Easing. The stock market’s boost has been short term, while the dollar index is slipping back to challenge Friday’s highs.
• The euro is rallying, though has some way to go to recover Monday’s opening gap losses. Losses from here could be limited as there has been long term speculation about ECB Easing.
• Gold and silver are the big movers as the precious metals take advantage of the slightly weaker dollar.
• Elsewhere, the dollar’s retreat is helping the USD/JPY to slip back from the highs.
Coming up today:
• Coming up today we have US cure durable goods orders at 13.30, followed by CB consumer confidence at 15.00.
Trade Idea:
• The lack of significant selling following the ECB’s announcement that it is considering Quantitative Easing, implies that markets had already anticipated such a move. In addition, there is a huge difference between talking about action and actually initiating it. The ECB has a history of letting its talking do the action, which could mean we’re waiting some time before Easing comes to fruition.
A good way to play this could be a ONE TOUCH trade predicting that the EUR/USD will touch 1.3300 within the next 3 days for a potential return of 190%.
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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Summary:
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