• This morning, the US dollar is pulling back significantly for the first time since May 21st as traders book profits ahead of the June Non Farm Payroll numbers.
• The dollar pairs are generally pushing higher, with the Australian dollar leading the charge. The AUD/USD is up 0.97%, with the AUD/JPY up 0.76% on account of the stronger yen. This morning the RBA opted to keep rates at 2.00% while remaining coy about when rates could be cut.
• The NZD/USD is up 0.29% in sympathy.
• The euro is holding steady despite the Greek troubles with small gains for the euro so far today.
• The yen pairs are mixed with the USD/JPY off by 0.22% as the yen looks to reverse some of its recent losing run.
Coming up today:
• Coming up today we have Spanish unemployment change at 08.00 and German unemployment change at 08.55.
• Following this we get UK Construction PMI at 09.30 with net lending to individuals released at the same time.
• European Flash estimates are released at 10.00.
• This afternoon is relatively light with FOMC member Brainard speaking at 15.00 and Factory orders released at the same time.
Trade Idea:
• The pound’s post election funk has continued despite a small rally this morning. Confusion still reigns over an EU referendum while the prospect of a rate hike still remains distant.
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.
Aussie Surge & Euro Pause
Morning Report: 07.00 London
• This morning, the US dollar is pulling back significantly for the first time since May 21st as traders book profits ahead of the June Non Farm Payroll numbers.
• The dollar pairs are generally pushing higher, with the Australian dollar leading the charge. The AUD/USD is up 0.97%, with the AUD/JPY up 0.76% on account of the stronger yen. This morning the RBA opted to keep rates at 2.00% while remaining coy about when rates could be cut.
• The NZD/USD is up 0.29% in sympathy.
• The euro is holding steady despite the Greek troubles with small gains for the euro so far today.
• The yen pairs are mixed with the USD/JPY off by 0.22% as the yen looks to reverse some of its recent losing run.
Coming up today:
• Coming up today we have Spanish unemployment change at 08.00 and German unemployment change at 08.55.
• Following this we get UK Construction PMI at 09.30 with net lending to individuals released at the same time.
• European Flash estimates are released at 10.00.
• This afternoon is relatively light with FOMC member Brainard speaking at 15.00 and Factory orders released at the same time.
Trade Idea:
• The pound’s post election funk has continued despite a small rally this morning. Confusion still reigns over an EU referendum while the prospect of a rate hike still remains distant.
• As such, there could be more room for downside for the GBP/USD with a LOWER trade a good way to play this.
A lower trade predicting that the GBP/USD will close below 1.5150 in 7 days time for a potential return of 155%.
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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