• The US dollar index is subsiding slightly after a barnstorming set of economic items on Friday. Today’s losses are still nothing to Friday’s gains, but it’s enough to ease the pressure on the dollar pairs. The S&P 500 also enjoyed Friday’s activities, but is showing some follow on buying this morning.
• The main mover is the AUD/USD, up 0.61% so far, with the AUD/JPY up another 0.31%. The NZD/USD is up 0.27% by association.
• The yen pairs are on the back foot as the USD/JPY pulls back from Friday’s highs. The GBP/JPY is one of the biggest movers on weekend speculation that a rate cut is now pushing further into 2015.
Coming up today:
• Coming up today we have Canadian Ivey PMI at 15.00 as the only item of real note.
Trade Idea:
We’ve had many false dawns for gold of late, but Friday’s dollar induced plunge could see at least a settling of the price in the short term. The precious metal now looks significantly over sold in the short and medium term, making a HIGHER trade look attractive.
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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Dollar Backs Off After NFP Rally
Morning Report: 09.00 London
• The US dollar index is subsiding slightly after a barnstorming set of economic items on Friday. Today’s losses are still nothing to Friday’s gains, but it’s enough to ease the pressure on the dollar pairs. The S&P 500 also enjoyed Friday’s activities, but is showing some follow on buying this morning.
• The main mover is the AUD/USD, up 0.61% so far, with the AUD/JPY up another 0.31%. The NZD/USD is up 0.27% by association.
• The yen pairs are on the back foot as the USD/JPY pulls back from Friday’s highs. The GBP/JPY is one of the biggest movers on weekend speculation that a rate cut is now pushing further into 2015.
Coming up today:
• Coming up today we have Canadian Ivey PMI at 15.00 as the only item of real note.
Trade Idea:
We’ve had many false dawns for gold of late, but Friday’s dollar induced plunge could see at least a settling of the price in the short term. The precious metal now looks significantly over sold in the short and medium term, making a HIGHER trade look attractive.
A HIGHER trade predicting that gold will close above $1225 in 14 days time could return 300% 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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Summary:
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