Dollar Weakens Markets Eye Havens

Morning Report: 9.00 London

• This morning, markets are on the back foot after yesterday’s Greek election turmoil. Not that this morning’s weakness can be wholly attributed to the Greek elections, such worry appears to be contained for now as evidenced by the euro’s rally this morning.
                                                                 

                               

• The yen pairs are the big movers are traders seek out the safety of the yen.
                                    

                               

                                   

                             

• The EUR/GBP is out performing despite the Greek election problems, mainly due to soft UK house price data.

                                  

• The NZD/USD and AUD/USD continue to perform well, helped by the weak dollar.

                             

                             

• Gold is also rallying on the same trend.

                             
                           
Coming up today:

• Coming up today we have US CB consumer confidence at 15.00.

Trade Idea:

It’s worth riding this anti-dollar trend in the short term to see where it leads and the NZD/USD looks the pick of the bunch.

                             

A good way to play this is a HIGHER trade predicting that the NZD/USD will close above 0.7850 in 1 days time for a potential return of 158%.

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Summary: