• This morning, the euro is nipping back slightly after days of steady gains on the back of Greek debt hopes. It seems unlikely a deal can be made by the end of the month, but many institutions are expecting a deal to be done on outstanding debt in the near future. The longer term prognosis remains unclear however.
• The US dollar has paused so far this morning after days of steady gains, while the S&P 500 is holding Wedneday’s rebound gains.
• The big loser this morning is the New Zealand dollar which is suffering after poor ANZ business confidence.
• The yen pairs are continuing to rise, with the GBP/JPY continuing to out perform here.
Coming up today:
• Coming up today we have the ongoing G7 meeting.
• From 13.30, we have Canadian GDP and US GDP released at the same time.
• Following this we get Chicago PMI at 14.45 and revised UoM consumer sentiment at 15.00.
Trade Idea:
• The euro has out performed in the last two days, but going forward, the situation is still murky to say the least. Paying creditors is all well and good, but if government salaries and pensions are left unpaid, who knows where it could lead.
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 Nips Back After Greek Hopes
Morning Report: 07.00 London
• This morning, the euro is nipping back slightly after days of steady gains on the back of Greek debt hopes. It seems unlikely a deal can be made by the end of the month, but many institutions are expecting a deal to be done on outstanding debt in the near future. The longer term prognosis remains unclear however.
• The US dollar has paused so far this morning after days of steady gains, while the S&P 500 is holding Wedneday’s rebound gains.
• The big loser this morning is the New Zealand dollar which is suffering after poor ANZ business confidence.
• The yen pairs are continuing to rise, with the GBP/JPY continuing to out perform here.
Coming up today:
• Coming up today we have the ongoing G7 meeting.
• From 13.30, we have Canadian GDP and US GDP released at the same time.
• Following this we get Chicago PMI at 14.45 and revised UoM consumer sentiment at 15.00.
Trade Idea:
• The euro has out performed in the last two days, but going forward, the situation is still murky to say the least. Paying creditors is all well and good, but if government salaries and pensions are left unpaid, who knows where it could lead.
• In the short term however, there’s scope for some upside still though as goodwill momentum remains with the euro going into the end of the month. The EUR/JPY could be the best vehicle to play this as the strong dollar continues to force all yen pairs higher.
A good way to play this is a ONE touch trade predicting that the EUR/JPY will touch 137.50 within the next 6 days for a potential return of 122%.
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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