• This morning, markets are generally mixed, with the S&P 500 slipping from the highs slightly despite strong Chinese data, while the dollar index pushing for new highs. .
• The big (and only real) mover is the British pound which has been hit for six by the news that opinion polls put the referendum result as neck and neck. The one thing that markets fear is the unknown and judging by the last minute scrabbling for promises on devolution from George Osborne, there are a lot of unknowns here. It seems Westminster may have discounted a Yes campaign victory and markets appear to have fallen into the same trap. Parallels are being drawn with the Canada/Quebec referendum which went down to the wire, with the unionists winning by a small percentage. If this is to happen again, we could see some further wild swings in the pound.
• The GBP/USD is down 0.98%, the GBP/JPY down 0.95%, while the EUR/GBP is up 0.87%.
Coming up today:
• Coming up today we have Canadian building permits at 13.30, followed by US Treasury secretary Lew speaking at 13.45.
Trade Idea:
• The latest polls put the referendum result as neck and neck, but there’s still room for twists and turns in both directions.
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:
Pound Batter On Separation Fears
Morning Report: 09.00 London
• This morning, markets are generally mixed, with the S&P 500 slipping from the highs slightly despite strong Chinese data, while the dollar index pushing for new highs.
.
• The big (and only real) mover is the British pound which has been hit for six by the news that opinion polls put the referendum result as neck and neck. The one thing that markets fear is the unknown and judging by the last minute scrabbling for promises on devolution from George Osborne, there are a lot of unknowns here. It seems Westminster may have discounted a Yes campaign victory and markets appear to have fallen into the same trap. Parallels are being drawn with the Canada/Quebec referendum which went down to the wire, with the unionists winning by a small percentage. If this is to happen again, we could see some further wild swings in the pound.
• The GBP/USD is down 0.98%, the GBP/JPY down 0.95%, while the EUR/GBP is up 0.87%.
Coming up today:
• Coming up today we have Canadian building permits at 13.30, followed by US Treasury secretary Lew speaking at 13.45.
Trade Idea:
• The latest polls put the referendum result as neck and neck, but there’s still room for twists and turns in both directions.
A good way to play this could be a ONE TOUCH predicting that the GBP/USD will touch 1.6325 at some point in the next 4 days. This could return 134% 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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