• This morning, markets are steady ahead of today’s Non Farm Payroll data. The dollar index remains at the highs, reflecting the general perception that we could see some strong data that underlines the Fed’s more bullish stance on rates.
• By contrast, the Bank of England took an unexpectedly dovish tone, inferring that rates may stay at record lows for another year. The new sent the pound crashing against other currencies.
• By contrast, the USD/JPY retains its upwards bias as the dollar continues to dominate the yen.
Coming up today:
• Coming up today we have UK manufacturing production at 09.30, released alongside trade balance and industrial production data.
• The big ticket is US non farm payrolls at 13.3o, released alongside a slew of employment and earnings data. Canadian jobs data comes through at the same time.
• NIESR UK GDP estimates follow at 15.00.
Trade Idea:
• NFP days are always something of a lottery, but the safer bet is generally to stick with the macro trend.
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.
Pound Wobbles on Dovish MPC
Morning Report: 06.30 London
• This morning, markets are steady ahead of today’s Non Farm Payroll data. The dollar index remains at the highs, reflecting the general perception that we could see some strong data that underlines the Fed’s more bullish stance on rates.
• By contrast, the Bank of England took an unexpectedly dovish tone, inferring that rates may stay at record lows for another year. The new sent the pound crashing against other currencies.
• By contrast, the USD/JPY retains its upwards bias as the dollar continues to dominate the yen.
Coming up today:
• Coming up today we have UK manufacturing production at 09.30, released alongside trade balance and industrial production data.
• The big ticket is US non farm payrolls at 13.3o, released alongside a slew of employment and earnings data. Canadian jobs data comes through at the same time.
• NIESR UK GDP estimates follow at 15.00.
Trade Idea:
• NFP days are always something of a lottery, but the safer bet is generally to stick with the macro trend.
A good way to play this is a HIGHER trade predicting that the USD/JPY will continue its recent up trend and close above 122.00 in 24 days time for a potential return of 119%.
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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