Binary.com Daily Market Report (5th Mar)
March 5, 2015 11:18 amVideo
Latest News
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Euro Drops As ECB Approaches
Morning Report: 09.00 London
• The euro is under focus this morning, with traders nervous ahead of today’s ECB meeting. The meeting is not expected to launch the the new quantitative easing program, but further details are anticipated regarding the launch date. The euro has been selling off through the morning and for much of yesterday.
• The move is helping to power the dollar index to new highs, while stock markets nudge higher
• The USD/JPY is rising as well, though the trend is so far not as strong as in the past.
The big mover is the NZD/USD which is off by 0.73%.
Coming up today:
• The ECB is the big ticket today, with the meeting due at 12.45 and press conference at 13.30. No rate change is expected, so it’s all about the press conference.
• Before this we have the MPC meeting and rate statement at 12.45.
• Following this we have Canadian Ivey PMI at 15.00, with FOMC member Williams speaking at the same time.
Trade Idea:
• Mario Draghi is a skilled operator who has delivered for markets on numerous occasions and as such we we’re likely to get news of the QE program launching on Monday as expected. Will a dilutive effect expected on the euro, we could see the downtrend further cemented.
A good way to play this is a LOWER trade predicting that the EUR/USD will close BELOW 1.1025 in 5 days time for a potential return of 118%.
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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