• This morning, the US dollar has eased off the gas following weak US data yesterday evening. The same sentiment pushed the S&P 500 to one of its heaviest losses, with further selling this morning.
• The NZD/USD is the biggest mover, up by over 1% as the dollar pressure eases and the data improves from neighbouring Australia.
• The AUD/USD and AUD/JPY are buoyed by better than expected trade balance data from Australia.
• The USD/CAD is having a rare down day, mainly as a result of the weaker US dollar than any particular Canadian dollar strength.
Coming up today:
• Coming up today we have UK construction PMI at 09.30.
• The day’s main highlight is the ECB rate decision at 12.45 and press conference at 13.30.
• The latest US unemployment figures are released at the same time.
Trade Idea:
While the EUR/USD down trend has received much focus, the EUR/JPY’s down trend is gaining momentum. This could only increase if the US dollar continues to ease off the gas, thus creating more downside momentum for the yen pairs.
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 Eases Off The Gas
Morning Report: 09.00 London
• This morning, the US dollar has eased off the gas following weak US data yesterday evening. The same sentiment pushed the S&P 500 to one of its heaviest losses, with further selling this morning.
• The NZD/USD is the biggest mover, up by over 1% as the dollar pressure eases and the data improves from neighbouring Australia.
• The AUD/USD and AUD/JPY are buoyed by better than expected trade balance data from Australia.
• The USD/CAD is having a rare down day, mainly as a result of the weaker US dollar than any particular Canadian dollar strength.
Coming up today:
• Coming up today we have UK construction PMI at 09.30.
• The day’s main highlight is the ECB rate decision at 12.45 and press conference at 13.30.
• The latest US unemployment figures are released at the same time.
Trade Idea:
While the EUR/USD down trend has received much focus, the EUR/JPY’s down trend is gaining momentum. This could only increase if the US dollar continues to ease off the gas, thus creating more downside momentum for the yen pairs.
A good way to play this could be a LOWER trade on the EUR/JPY predicting that the pair will close below 137.00 in 5 days time for a potential return of 151%.
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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