• Stock market futures are shaking off the Greek malaise and furthering yesterday’s rally off the lows. Quite where the referendum result will leave Greece and the euro is still anyone’s guess, but markets appear to be confident that Eurogeddon is to be avoided (for now).
• The dollar is still trading above Monday’s opening gap, while the euro retreats slightly this morning after counter rallying yesterday.
• The dollar’s position is helped by falling oil prices, with the Iranian deal adding to downside pressure.
• The yen pairs are flat after most staged a recovery to reclaim the Monday opening gap.
• Finally, the Australian dollar is putting up some fight after this morning’s rate statement.
Coming up today:
• Coming up today we have UK manufacturing production at 09.30.
• This is followed by US and Canadian trade balance data at 13.30.
• UK NIESR GDP data follows at 15.00.
• Eurogroup and Euro summit meetings will no doubt dominate proceedings today however.
Trade Idea:
Away from the euro, the NZD/USD continues its consistent selling and this is likely to continue while the dollar remains elevated.
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.
Markets Rally Despite Greek Stalemate
Morning Report: 07.00 London
• Stock market futures are shaking off the Greek malaise and furthering yesterday’s rally off the lows. Quite where the referendum result will leave Greece and the euro is still anyone’s guess, but markets appear to be confident that Eurogeddon is to be avoided (for now).
• The dollar is still trading above Monday’s opening gap, while the euro retreats slightly this morning after counter rallying yesterday.
• The dollar’s position is helped by falling oil prices, with the Iranian deal adding to downside pressure.
• The yen pairs are flat after most staged a recovery to reclaim the Monday opening gap.
• Finally, the Australian dollar is putting up some fight after this morning’s rate statement.
Coming up today:
• Coming up today we have UK manufacturing production at 09.30.
• This is followed by US and Canadian trade balance data at 13.30.
• UK NIESR GDP data follows at 15.00.
• Eurogroup and Euro summit meetings will no doubt dominate proceedings today however.
Trade Idea:
Away from the euro, the NZD/USD continues its consistent selling and this is likely to continue while the dollar remains elevated.
A good way to play this is a LOWER trade predicting that the NZD/USD will close below 0.6600 in 7 days time for a potential return of 176%.
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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