• The S&P 500 dropped over 1.5% yesterday, not helped by the continued out performance of the US dollar as it hits its highest levels since July 2010. The prospected of an extended conflict in Iraq and Syria is weighing on markets that were running fast into over brought levels.
• The Australian and New Zealand dollars are the big losers once again. The trend is firmly against these pairs, especially against a firm US dollar bull market.
• Commodities are performing well though, possibly due to the fear factor of military action in the Middle East. Silver is up, while gold enjoys it’s second up day in a row.
• The USD/JPY is just about holding its up trend, helped by safe haven yen demand.
Coming up today:
• Coming up today we have US final GDP at 13.30, followed by revised UoM consumer sentiment at 14.55.
Trade Idea:
• The AUD/USD down trend has shown no signs of turning away from the down trend, especially in the face of such dollar index strength. Before the trend turns, which it must at some point, there is scope for one final plunge lower.
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:
Dollar Holds Firm As Markets Slump
Morning Report: 09.00 London
• The S&P 500 dropped over 1.5% yesterday, not helped by the continued out performance of the US dollar as it hits its highest levels since July 2010. The prospected of an extended conflict in Iraq and Syria is weighing on markets that were running fast into over brought levels.
• The Australian and New Zealand dollars are the big losers once again. The trend is firmly against these pairs, especially against a firm US dollar bull market.
• Commodities are performing well though, possibly due to the fear factor of military action in the Middle East. Silver is up, while gold enjoys it’s second up day in a row.
• The USD/JPY is just about holding its up trend, helped by safe haven yen demand.
Coming up today:
• Coming up today we have US final GDP at 13.30, followed by revised UoM consumer sentiment at 14.55.
Trade Idea:
• The AUD/USD down trend has shown no signs of turning away from the down trend, especially in the face of such dollar index strength. Before the trend turns, which it must at some point, there is scope for one final plunge lower.
A good way to play this is a ONE TOUCH trade predicting that the AUD/USD will touch 0.8650 within 7 days for a potential return of 119%.
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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