• This morning, Financial markets are steady and waiting for the prevailing wind of today’s main economic items after a strong rally yesterday. The potential Greek crisis appears to be pulling back from the brink the new government softens it position. Greek is effectively looking for more time to present its proposals and may just get this.
• The S&P 500 is so far unchanged, while the dollar index is holding on the 14 period average that has acted as support to date.
• The euro is so far unchanged after solid gains yesterday.
• The NZD/USD is a strong performer so far, capping three days of solid gains following reasonable employment data and hints that rate cuts may be further off from RBNZ governor Wheeler.
• The AUD/USD and AUD/JPY are also recovering in line with a general rebound in commodity prices.
• Gold is stable so far after safe haven demand eased yesterday.
Coming up today: • Coming up today we have UK services PMI due at 09.30.
• This is followed by the first hint at the state of the US jobs market with ADP non farm employment change due at 13.15.
• Canadian Ivey PMI follows at 15.00, with US ISM non manufacturing at the same time. Trade Idea:
• Did we see a capitulation low on the EUR/USD recently? It’s possible. The ECB and Eurozone has an incredible record of pulling the euro back from the brink – Not always with the best long term consequences, but often its done with enough promise that markets push the euro higher in the face of analyst scepticism.
• Are the euro’s troubles over? Certainly not, but the ECB/may have pulled their three card trick again with enough gusto for the euro to climb for a little while longer yet.
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.
Greek Tensions Ease To Send Euro Higher
Morning Report: 8.30 London
• This morning, Financial markets are steady and waiting for the prevailing wind of today’s main economic items after a strong rally yesterday. The potential Greek crisis appears to be pulling back from the brink the new government softens it position. Greek is effectively looking for more time to present its proposals and may just get this.
• The S&P 500 is so far unchanged, while the dollar index is holding on the 14 period average that has acted as support to date.
• The euro is so far unchanged after solid gains yesterday.
• The NZD/USD is a strong performer so far, capping three days of solid gains following reasonable employment data and hints that rate cuts may be further off from RBNZ governor Wheeler.
• The AUD/USD and AUD/JPY are also recovering in line with a general rebound in commodity prices.
• Gold is stable so far after safe haven demand eased yesterday.
Coming up today:
• Coming up today we have UK services PMI due at 09.30.
• This is followed by the first hint at the state of the US jobs market with ADP non farm employment change due at 13.15.
• Canadian Ivey PMI follows at 15.00, with US ISM non manufacturing at the same time.
Trade Idea:
• Did we see a capitulation low on the EUR/USD recently? It’s possible. The ECB and Eurozone has an incredible record of pulling the euro back from the brink – Not always with the best long term consequences, but often its done with enough promise that markets push the euro higher in the face of analyst scepticism.
• Are the euro’s troubles over? Certainly not, but the ECB/may have pulled their three card trick again with enough gusto for the euro to climb for a little while longer yet.
A good way to play this is a HIGHER Trade predicting that the EUR/USD will close above 1.6000 in 30 days time for a potential return of 150%.
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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