• So far markets are playing out the Thanksgiving pattern as expected as they rise slightly following yesterday’s Thanksgiving celebrations. Today is also Black Friday, the day that markets the beginning of US Christmas shopping and early signs are that shoppers are not disappointing. Markets are not seen much movement though, as the S&P 500 inches higher.
• There was some early volatility on the Aussie pairs after earnings from mining companies that the sector could be running slower than previously expected. The Aussie took an dive, but has since recovered well after the AUD/USD hit the lowest levels since September.
• Gold is also showing some spirit, but the precious metal has general been stuck in its trading zone for some time.
Coming up today:
• Coming up today we have UK net lending to individuals at 09.30. • European CPI flash estimate follows at 10.00.Finally, • Canadian GDP is the last item of note for the week.
Trade Idea:
• The EUR/GBP has been hitting support in recent weeks and so far is holding. After Mark Carney moved to cool the Help to Buy induced housing bubble, there could be some weakness ahead for the British pound, which could mean further upside for the EUR/GBP.
This Daily Market Report is written by Dave Evans, Professional Trader. This is presented as an idea to stimulate binary option trading ideas and is not a financial advice.
Markets stable as US gets shopping
Morning Report: 08.30 London
• So far markets are playing out the Thanksgiving pattern as expected as they rise slightly following yesterday’s Thanksgiving celebrations. Today is also Black Friday, the day that markets the beginning of US Christmas shopping and early signs are that shoppers are not disappointing. Markets are not seen much movement though, as the S&P 500 inches higher.
• There was some early volatility on the Aussie pairs after earnings from mining companies that the sector could be running slower than previously expected. The Aussie took an dive, but has since recovered well after the AUD/USD hit the lowest levels since September.
• Gold is also showing some spirit, but the precious metal has general been stuck in its trading zone for some time.
Coming up today:
• Coming up today we have UK net lending to individuals at 09.30.
• European CPI flash estimate follows at 10.00.Finally,
• Canadian GDP is the last item of note for the week.
Trade Idea:
• The EUR/GBP has been hitting support in recent weeks and so far is holding. After Mark Carney moved to cool the Help to Buy induced housing bubble, there could be some weakness ahead for the British pound, which could mean further upside for the EUR/GBP.
• A good way to play this is a HIGHER trade predicting that the EUR/GBP closes above 0.8350 in 5 days time for a potential return of 128%.
This Daily Market Report is written by Dave Evans, Professional Trader. This is presented as an idea to stimulate binary option trading ideas and is not a financial advice.
Summary:
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