• The Euro staged its second largest rally in history yesterday against the US Dollar, with extended gains again this morning. Markets were expecting more from Mario Draghi and were betting on the ECB president bringing out the big guns to combat eurozone deflation. Instead, he announced rate cuts and easing activities that were much less than expected mostly an extension rather than an expansion of policy.
• The US Dollar dropped sharply on the news as the Euro counterweight pushed higher. The stakes are now raised even higher for today’s Non Farm Payroll report.
• Other Dollar pairs have capitalised on the news, with the Pound and Australian Dollar pushing higher. The Aussie is nipping back this morning however.
Coming up today:
• Today’s main item is US Non Farm Payrolls at 13.30 relealsed alongside unemployment and earnings data. The headline jobs number is expected to be around 201k.
• Canadian jobs data is released at the same time.
Trade Idea:
• The Euro shot higher yesterday after Mario Draghi failed to exceed market expectations. The question is whether Draghi will make the same mistake again?
• Policy makers are not immune to market reactions and there is a possibility that Draghi will go a little further in the ECB’s next meeting. As such we could see the euro’s advance reverse.
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 Extends Historic Rally
Morning Report: 06.15 London
• The Euro staged its second largest rally in history yesterday against the US Dollar, with extended gains again this morning. Markets were expecting more from Mario Draghi and were betting on the ECB president bringing out the big guns to combat eurozone deflation. Instead, he announced rate cuts and easing activities that were much less than expected mostly an extension rather than an expansion of policy.
• The US Dollar dropped sharply on the news as the Euro counterweight pushed higher. The stakes are now raised even higher for today’s Non Farm Payroll report.
• Other Dollar pairs have capitalised on the news, with the Pound and Australian Dollar pushing higher. The Aussie is nipping back this morning however.
Coming up today:
• Today’s main item is US Non Farm Payrolls at 13.30 relealsed alongside unemployment and earnings data. The headline jobs number is expected to be around 201k.
• Canadian jobs data is released at the same time.
Trade Idea:
• The Euro shot higher yesterday after Mario Draghi failed to exceed market expectations. The question is whether Draghi will make the same mistake again?
• Policy makers are not immune to market reactions and there is a possibility that Draghi will go a little further in the ECB’s next meeting. As such we could see the euro’s advance reverse.
A good way to play this is a LOWER trade predicting that the EUR/GBP will close below 0.7200 in 20 days time for a potential return of 130%.
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
Related Posts: