Euro Stable After ECB Shock

Morning Report: 09.00 London

• This morning, markets are stabilising after the ECB sent shockwaves through currencies with bolder than expected measures announced.

• So far the S&P 500 is unmoved ahead of today’s Non Farm payrolls, while the dollar index holds at the highs.                                                                                                        

                               
                                                                                                                                                                   
                               

• The euro is recovering some of yesterday’s losses, but the damage is not going to be recovered overnight.

                               

                               

• Gold is also on the rise after the dollar index gains put pressure on the metal yesterday.

                                                           
                                                                                    
Coming up today:

• Coming up today we have a North American focus, with US Non Farm Payrolls the main focus from 13.30.

• At the same time we have Canadian employment data and US unemployment claims.

• Canadian Ivey PMI follows at 15.00.

Trade Idea:

• The EUR/USD came in for some heavy selling yesterday, but judging by the monthly chart, there is room for further downside from here.

A good way to play this is a LOWER trade predicting that the EUR/USD will close below 1.2900 in 35 days time. This could return 128% if successful.

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Summary: