• This morning, the dollar index has continued to slip below the 14 day moving average, hinting at a trend change and a halt to the dollar’s near relentless rally.
• At the same time, the S&P 500 is holding at the highs, but is treading water this morning.
• The big mover continues to be the NZD/USD which is showing strong momentum yet again this morning.
• The USD/CAD is also moving steadily, benefiting from the weaker US dollar index.
• Gold is continuing to enjoy the dollar’s short break in bullish momentum, but is some way from a confirmed trend change.
Coming up today: • Coming up today we have UK second estimate GDP at 09.30. At the same time we have prelim business investment.
• From 13.30 we switch to North America for Canadian and US CPI, with US unemployment claims released at the same time.
• Following this we have MPC member Shafik speaking at 17.30 and FOMC member Lockhart speaking at 18.00.
Trade Idea:
• The EUR/GBP is stalling this morning, but there’s no denying the direction of this trend.
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.
Is The Dollar Trend Turning?
Morning Report: 09.00 London
• This morning, the dollar index has continued to slip below the 14 day moving average, hinting at a trend change and a halt to the dollar’s near relentless rally.
• At the same time, the S&P 500 is holding at the highs, but is treading water this morning.
• The big mover continues to be the NZD/USD which is showing strong momentum yet again this morning.
• The USD/CAD is also moving steadily, benefiting from the weaker US dollar index.
• Gold is continuing to enjoy the dollar’s short break in bullish momentum, but is some way from a confirmed trend change.
Coming up today:
• Coming up today we have UK second estimate GDP at 09.30. At the same time we have prelim business investment.
• From 13.30 we switch to North America for Canadian and US CPI, with US unemployment claims released at the same time.
• Following this we have MPC member Shafik speaking at 17.30 and FOMC member Lockhart speaking at 18.00.
Trade Idea:
• The EUR/GBP is stalling this morning, but there’s no denying the direction of this trend.
A good way to play this is to bet on further upside with a LOWER trade predicting that the EUR/GBP will close below 0.7310 in 15 days time for a potential return of 109%.
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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