• The euro is holding steady, with a negative bias after a spectacular rebound yesterday. Markets remain cautious however as they respond to the wider risk-off implications of the weekend terror attacks in addition to the risk posed by a Greek default/euro exit. • The dollar is steady this morning after coming under pressure in the face of the euro rebound.
• The yen pairs are seeing the biggest movement, led by the EUR/JPY with the USD/JPY down 0.30%.
• The NZD/USD continues to drip lower, slipping another 0.35% this morning after ANZ business confidence dropped by 2.3 points. Coming up today:
• Coming up today we have German unemployment change at 08.55.
• This is followed by UK current account data at 09.30, released alongside final GDP.
• RBA governor Stevens speaks at 09.40.
• Europe will come under some planned focus at 10.00, with CPI estimates at 10.00 and the latest unemployment rate figures.
• From 13.30 we switch to North America for the latest Canadian GDP figures, followed by US Chicago PMI a 14.45 and US CB consumer confidence at 15.00.
Trade Idea:
Away from the euro, the NZD/USD continues to show relative weakness despite the dollar’s poor showing yesterday.
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 Rebounds – Markets Remain Cautious
Morning Report: 07.30 London
• The euro is holding steady, with a negative bias after a spectacular rebound yesterday. Markets remain cautious however as they respond to the wider risk-off implications of the weekend terror attacks in addition to the risk posed by a Greek default/euro exit.
• The dollar is steady this morning after coming under pressure in the face of the euro rebound.
• The yen pairs are seeing the biggest movement, led by the EUR/JPY with the USD/JPY down 0.30%.
• The NZD/USD continues to drip lower, slipping another 0.35% this morning after ANZ business confidence dropped by 2.3 points.
Coming up today:
• Coming up today we have German unemployment change at 08.55.
• This is followed by UK current account data at 09.30, released alongside final GDP.
• RBA governor Stevens speaks at 09.40.
• Europe will come under some planned focus at 10.00, with CPI estimates at 10.00 and the latest unemployment rate figures.
• From 13.30 we switch to North America for the latest Canadian GDP figures, followed by US Chicago PMI a 14.45 and US CB consumer confidence at 15.00.
Trade Idea:
Away from the euro, the NZD/USD continues to show relative weakness despite the dollar’s poor showing yesterday.
There could be more downside ahead and a good way to play this is a LOWER trade predicting that the NZD/USD closes below 0.6750 in 7 days time for a potential return of 166%.
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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