• The Euro is slightly on the back foot this morning ahead of the big ECB meeting after midday. Headline rates are expected to stay at 0.05%, but a Quantitative Easing extension could be on the cards.
• The Euro has actually held its ground relatively well compared to the Pound which suffered saw some heavy selling following poor UK construction PMI data at 09.30.
• The Australian Dollar continues to perform well though, with the AUD/JPY enjoying consistent gains.
Coming up today:
• Coming up today, we have UK services PMI at 09.30.
• The big item is the ECB minimum bid rate at 12.45, followed by the press conference at 13.30.
• Also at 13.30, we have US unemployment claims, followed by Fed Chair Yellen testifying at 15.00 and ISM non-manufacturing PMI at the same time.
Trade Idea:
• UK interest rate expectations continue to drift further into the future, as construction data disappoints.
• The Dollar index has been stuck in a tight range of late, but if Yellen lights the touch paper, we could see the GBP/USD drop even further.
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.
All Eyes on ECB
Morning Report: 06.15 London
• The Euro is slightly on the back foot this morning ahead of the big ECB meeting after midday. Headline rates are expected to stay at 0.05%, but a Quantitative Easing extension could be on the cards.
• The Euro has actually held its ground relatively well compared to the Pound which suffered saw some heavy selling following poor UK construction PMI data at 09.30.
• The Australian Dollar continues to perform well though, with the AUD/JPY enjoying consistent gains.
Coming up today:
• Coming up today, we have UK services PMI at 09.30.
• The big item is the ECB minimum bid rate at 12.45, followed by the press conference at 13.30.
• Also at 13.30, we have US unemployment claims, followed by Fed Chair Yellen testifying at 15.00 and ISM non-manufacturing PMI at the same time.
Trade Idea:
• UK interest rate expectations continue to drift further into the future, as construction data disappoints.
• The Dollar index has been stuck in a tight range of late, but if Yellen lights the touch paper, we could see the GBP/USD drop even further.
A good way to play this is a LOWER trade predicting that the GBP/USD will close below 1.4900 in 20 days time for a potential return of 117%.
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.
Email [email protected] or skype me at bomaffiliates-karen
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