Binary.com Daily Market Report (8th Dec)
December 8, 2015 9:42 amVideo
Latest News
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- USD/JPY: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- EUR/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: trading plan for the US session on April 26th (analysis of morning deals). The pound attempted, but it didn’t go April 26, 2024
- EUR/USD: trading plan for the US session on April 26th (analysis of morning deals). The euro continues to rise April 26, 2024
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- Can Chinese PMIs solidify the economy’s recovery prospects? – Preview April 26, 2024
- Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
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- Week Ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- Market Comment – Yen keeps sinking after Bank of Japan decision April 26, 2024
- Fed faces dilemma amid sticky inflation and slowing economy – Preview April 26, 2024
- USD/JPY: trading tips for beginners for European session on April 26 April 26, 2024
- GBP/USD: trading tips for beginners for European session on April 26 April 26, 2024
- EUR/USD: trading tips for beginners for European session on April 26 April 26, 2024
Oil Hits 7 Year Low
Morning Report: 06.30 London
• This morning, commodities and commodity currencies continue to come under pressure as oil prices hit seven year lows overnight. In its latest meeting, OPEC failed to reach an agreement on how to combat the current oil glut, putting to bed thoughts that oil producers could come together to control production.
• The Australian Dollar has been hit hard, especially after Chinese trade balance came in well below expectations.
• The New Zealand Dollar has been pressured, but is holding up well today despite expectations for a rate cut on Thursday.
• The Euro is holding firm this morning after two days of gains, as the Dollar index remains unchanged so far.
Coming up today:
• Today we have UK Halifax HPI at 08.00, followed by manufacturing production at 09.30.
• Canadian building permits follows at 13.30, followed by BOC governor Poloz speaking at 17.50.
• At 15.00 we have UK NIESR GDP estimate, released alongside US JOLTS job openings.
• ECOFIN meetings run throughout the day.
Trade Idea:
• The Canadian Dollar has been hit particularly hard of late, as one of currencies most directly impacted by the recent oil price slump.
With no end in sight for the oil bear market, a good way to play this is a LOWER trade predicting that the USD/CAD will close above 1.3600 in 45 days for a potential return of 150%.
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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