• Greece supposedly enters its last chance saloon on Saturday, but we’ve heard this before and markets are currently confident of a deal being done. The euro is on the back foot, but remains relatively steady given the circumstances.
• The dollar has a positive bias, while the S&P 500 tests the 100 period moving average support line.
• The yen pairs are under pressure after strong CPI and household spending data from Japan.
• The Australian dollar is notable for its weakness, with the AUD/JPY off by 0.37% and the AUD/USD down by 0.19%.
Coming up today:
• The EU economic summit will no doubt dominate news flow throughout the day.
• Revised UoM consumer sentiment arrives at 15.00.
• BOE governor Carney speaks at 15.15.
Trade Idea:
Money could still continue to flow into the British pound at the expense of the euro and the Canadian dollar appears an attractive pair to ride this trend with.
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 Holds Firm, Traders Hold Breath
Morning Report: 07.30 London
• Greece supposedly enters its last chance saloon on Saturday, but we’ve heard this before and markets are currently confident of a deal being done. The euro is on the back foot, but remains relatively steady given the circumstances.
• The dollar has a positive bias, while the S&P 500 tests the 100 period moving average support line.
• The yen pairs are under pressure after strong CPI and household spending data from Japan.
• The Australian dollar is notable for its weakness, with the AUD/JPY off by 0.37% and the AUD/USD down by 0.19%.
Coming up today:
• The EU economic summit will no doubt dominate news flow throughout the day.
• Revised UoM consumer sentiment arrives at 15.00.
• BOE governor Carney speaks at 15.15.
Trade Idea:
Money could still continue to flow into the British pound at the expense of the euro and the Canadian dollar appears an attractive pair to ride this trend with.
A good way to play this is a HIGHER trade predicting that the GBP/CAD closes above 1.9500 in 28 days for a potential return of 131%.
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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