• This morning, the euro is on the back foot against the US dollar but is generally outperforming its peers, especially the British pound.
• The EUR/GBP is on the rise again this morning as the GBP/USD and GBP/JPY drop for the second straight day.
• Meanwhile, the US Dollar index is on the rise after days of selling (despite better than expected ADP payrolls yesterday).
• The USD/JPY is unchanged as the yen and dollar cancel each other out.
• Finally, oil prices remain pressured with world markets facing multiple pressures including a Chinese slowdown and political uncertainty in Portugal, Ireland and Greece.
Coming up today:
• Coming up today we have Spanish flash CPI at 08.00.
• BOE governor Carney also speaks at this time.
• Following this, we have German unemployment change at 08.55.
• At 09.30, we get a raft of UK data points including current account data, final GDP and net lending to individuals.
• Then at 13.30, we have Canadian GDP and US unemployment claims.
• This is followed by Chicago PMI at 14.45.
Trade Idea:
• Despite this morning’s pullback, the ECB effect seems to be still in place, with the euro out performing its peers.
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 Out Performs
Morning Report: 06.30 London
• This morning, the euro is on the back foot against the US dollar but is generally outperforming its peers, especially the British pound.
• The EUR/GBP is on the rise again this morning as the GBP/USD and GBP/JPY drop for the second straight day.
• Meanwhile, the US Dollar index is on the rise after days of selling (despite better than expected ADP payrolls yesterday).
• The USD/JPY is unchanged as the yen and dollar cancel each other out.
• Finally, oil prices remain pressured with world markets facing multiple pressures including a Chinese slowdown and political uncertainty in Portugal, Ireland and Greece.
Coming up today:
• Coming up today we have Spanish flash CPI at 08.00.
• BOE governor Carney also speaks at this time.
• Following this, we have German unemployment change at 08.55.
• At 09.30, we get a raft of UK data points including current account data, final GDP and net lending to individuals.
• Then at 13.30, we have Canadian GDP and US unemployment claims.
• This is followed by Chicago PMI at 14.45.
Trade Idea:
• Despite this morning’s pullback, the ECB effect seems to be still in place, with the euro out performing its peers.
A good way to play this is a HIGHER trade predicting that the EUR/USD will close above 1.1400 in 14 days for a potential return of 189%.
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.
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