• The dollar index is steadying itself after experiencing the biggest sell off from its current run yesterday. This morning, the dollar is steady as traders wait for the main morning data to come through. The S&P 500 is still on the back foot however.
• Elsewhere the Australian and New Zealand dollars are on the rise, helping by the ‘no change’ verdict from the RBA overnight.
• The yen pairs are continuing to slip, helped by the dollar taking its foot off the gas.
• Gold and silver continue to perform well, working off Friday’s dip.
Coming up today:
• Coming up today we have UK manufacturing production at 09.30, with a slight drop to 0.2% expected. The latest NIESR GDP estimate gets released at 15.00.
• This is followed by Canadian building permits at 13.30 and the US JOLTS job openings at 15.00.
Trade Idea:
The EUR/USD might have had a good day yesterday, but the pressure is still on the euro. This pressure might now transfer to the EUR/JPY if the dollar’s funk continues.
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 steadies after Monday Dump
Morning Report: 09.00 London
• The dollar index is steadying itself after experiencing the biggest sell off from its current run yesterday. This morning, the dollar is steady as traders wait for the main morning data to come through. The S&P 500 is still on the back foot however.
• Elsewhere the Australian and New Zealand dollars are on the rise, helping by the ‘no change’ verdict from the RBA overnight.
• The yen pairs are continuing to slip, helped by the dollar taking its foot off the gas.
• Gold and silver continue to perform well, working off Friday’s dip.
Coming up today:
• Coming up today we have UK manufacturing production at 09.30, with a slight drop to 0.2% expected. The latest NIESR GDP estimate gets released at 15.00.
• This is followed by Canadian building permits at 13.30 and the US JOLTS job openings at 15.00.
Trade Idea:
The EUR/USD might have had a good day yesterday, but the pressure is still on the euro. This pressure might now transfer to the EUR/JPY if the dollar’s funk continues.
A good way to play this is a LOWER trade predicting that the EUR/JPY will close below 137.00 in 3 days time for a potential return of 128% 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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