• This morning, markets are reacting to the ‘no’ vote issued by the Greek public on Sunday. Despite warnings from European officials of dire consequences, the world has not yet come to an end as a result. The reaction is less than we might expect given the preceding headlines partly because of the IMF stating that Greece effectively needed debt relief to survive. It is hoped that rather than a ‘Grexit’ or default, the referendum result will lead to a better deal for Greece.
• Stock markets have taken the most pessimistic view, with the S&P 500 futures opening heavily lower. The Dollar gapped higher, but is slipping back as we enter the European session.
• The Euro gapped lower in early Sunday night trading, but is staging a rebound.
• The Yen appears to have taken up the position of safe haven of choice, with heavy selling across all Yen pairs.
• The selling is particularly fierce against the Aussie Dollar after Friday’s tumble.
Coming up today:
• The post referendum reaction will no doubt dominate news flow today over any planned economic items.
• Europe is quiet until we hit US ISM non-manufacturing PMI at 15.00 and Canadian Ivey PMI at the same time.
Trade Idea:
The EUR/GBP is attempting to close the opening gap lower, just as it nearly did last Monday. It is doubtful that we’re through with volatility this week, but there could at least be further upside potential in the short term.
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.
Greece Votes No.
Armageddon Doesn’t Happen
Morning Report: 07.00 London
• This morning, markets are reacting to the ‘no’ vote issued by the Greek public on Sunday. Despite warnings from European officials of dire consequences, the world has not yet come to an end as a result. The reaction is less than we might expect given the preceding headlines partly because of the IMF stating that Greece effectively needed debt relief to survive. It is hoped that rather than a ‘Grexit’ or default, the referendum result will lead to a better deal for Greece.
• Stock markets have taken the most pessimistic view, with the S&P 500 futures opening heavily lower. The Dollar gapped higher, but is slipping back as we enter the European session.
• The Euro gapped lower in early Sunday night trading, but is staging a rebound.
• The Yen appears to have taken up the position of safe haven of choice, with heavy selling across all Yen pairs.
• The selling is particularly fierce against the Aussie Dollar after Friday’s tumble.
Coming up today:
• The post referendum reaction will no doubt dominate news flow today over any planned economic items.
• Europe is quiet until we hit US ISM non-manufacturing PMI at 15.00 and Canadian Ivey PMI at the same time.
Trade Idea:
The EUR/GBP is attempting to close the opening gap lower, just as it nearly did last Monday. It is doubtful that we’re through with volatility this week, but there could at least be further upside potential in the short term.
A good way to play this is a HIGHER trade predicting that the EUR/ GBP will close above 0.7150 within the next 7 days for a potential return of 162% if successful.
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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