• Risk appetite continues to increase on stock markets, with the 100 day moving average acting as support again for the S&P 500.
• Currency markets are telling a more complex tale though as the dollar index pushes back towards the highs and the euro slips ever lower. The British pound is under particular pressure despite better than expected housing data this morning. The EUR/USD is lower again, but the selling momentum is greater for the pound.
• The yen pairs are on the rise, helped by the increase in risk appetite and money flowing from the yen into the US dollar. The USD/JPY is up 0.42% this morning, but the big mover is the AUD/JPY which is up 0.80% after better than expected building approvals.
• The AUD/USD and NZD/USD are also the best performing dollar pairs, with the latter showing impressive follow through momentum.
Coming up today: • Coming up today we have European retail sales at 10.00.
• This is followed by the official UK bank rate and details of the asset purchase facility.
• Later we switch to the US for unemployment claims. Trade Idea:
• Although today’s MPC meeting could throw up a surprise, it’s unlikely, which makes the GBP/USD attractive for bearish trade.
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.
Dollar Pushes On
Morning Report: 9.00 London
• Risk appetite continues to increase on stock markets, with the 100 day moving average acting as support again for the S&P 500.
• Currency markets are telling a more complex tale though as the dollar index pushes back towards the highs and the euro slips ever lower. The British pound is under particular pressure despite better than expected housing data this morning. The EUR/USD is lower again, but the selling momentum is greater for the pound.
• The yen pairs are on the rise, helped by the increase in risk appetite and money flowing from the yen into the US dollar. The USD/JPY is up 0.42% this morning, but the big mover is the AUD/JPY which is up 0.80% after better than expected building approvals.
• The AUD/USD and NZD/USD are also the best performing dollar pairs, with the latter showing impressive follow through momentum.
Coming up today:
• Coming up today we have European retail sales at 10.00.
• This is followed by the official UK bank rate and details of the asset purchase facility.
• Later we switch to the US for unemployment claims.
Trade Idea:
• Although today’s MPC meeting could throw up a surprise, it’s unlikely, which makes the GBP/USD attractive for bearish trade.
A good way to play this is a LOWER trade predicting that the GBP/USD will close below 1.5000 in 5 days time for a potential return of 157%
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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