• Markets remain cautiously optimistic after another drop in US markets overnight. Equities have recovered well off the February lows, but no-one is expecting a straight line recovery from here, especially with the ECB in ‘whatever it takes’ mode and Greece rumbling in the background. The US Dollar has staged a slow recovery this week, but this evening’s FOMC meeting minutes could prove a stumbling point.
• Elsewhere, the Japanese Yen is pausing at the lows after a period of scrutiny from world markets.
• In Europe, the Euro continues to hold the balance of power, with the Pound slipping back again yesterday and the GBP/JPY continuing to slide.
Coming up today:
• Coming up today we have Canadian Ivey PMI at 15.00.
• This is followed by US crude oil inventories at 15.30.
• FOMC member Mester speaks at 17.20, with FOMC minutes released at 19.00 and Bullard speaking at 23.30.
Trade Idea:
• With the US Dollar showing some stability and the yen remaining under pressure, the USD/JPY could have further to fall.
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.
Cautious Optimism
Morning Report: 06.30 London
• Markets remain cautiously optimistic after another drop in US markets overnight. Equities have recovered well off the February lows, but no-one is expecting a straight line recovery from here, especially with the ECB in ‘whatever it takes’ mode and Greece rumbling in the background. The US Dollar has staged a slow recovery this week, but this evening’s FOMC meeting minutes could prove a stumbling point.
• Elsewhere, the Japanese Yen is pausing at the lows after a period of scrutiny from world markets.
• In Europe, the Euro continues to hold the balance of power, with the Pound slipping back again yesterday and the GBP/JPY continuing to slide.
Coming up today:
• Coming up today we have Canadian Ivey PMI at 15.00.
• This is followed by US crude oil inventories at 15.30.
• FOMC member Mester speaks at 17.20, with FOMC minutes released at 19.00 and Bullard speaking at 23.30.
Trade Idea:
• With the US Dollar showing some stability and the yen remaining under pressure, the USD/JPY could have further to fall.
A good way to play this is a LOWER trade predicting that that the USD/JPY will close below 110.00 in 14 days time for a potential return of 132%.
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.
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