• This morning, the dollar pairs are recovering some of the ground lost on Friday after a strong US Non Farm Payrolls sent markets sliding. The prospect of an early rate hike saw most dollar pairs plunge in Friday, including gold while the US dollar index rocketed higher.
• It is an indictment of the post QE world whereby a healthy jobs number is seen as something negative by traders. The strong NFP saw the heaviest selling since January on the S&P 500 with some follow on selling this morning. The longer term moving averages are still holding however.
• The euro was one of the biggest losers on Friday and so today is one of the biggest winners as traders unravel some of Friday’s positions.
• Gold is also on the rise after heavy selling.
• The yen pairs are also on the rise, primarily on the back of a weaker dollar this morning.
Coming up today: • Coming up today we have Eurogroup meetings running throughout the day, just as Greek negotiations start to bristle again.
Trade Idea:
• Canadian job numbers failed to impress on Friday at the same time as US numbers coming in well above expectations. At the same time, oil prices have filed to rebound significantly.
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 Pairs Rebound After NFP Upset
Morning Report: 09.00 London
• This morning, the dollar pairs are recovering some of the ground lost on Friday after a strong US Non Farm Payrolls sent markets sliding. The prospect of an early rate hike saw most dollar pairs plunge in Friday, including gold while the US dollar index rocketed higher.
• It is an indictment of the post QE world whereby a healthy jobs number is seen as something negative by traders. The strong NFP saw the heaviest selling since January on the S&P 500 with some follow on selling this morning. The longer term moving averages are still holding however.
• The euro was one of the biggest losers on Friday and so today is one of the biggest winners as traders unravel some of Friday’s positions.
• Gold is also on the rise after heavy selling.
• The yen pairs are also on the rise, primarily on the back of a weaker dollar this morning.
Coming up today:
• Coming up today we have Eurogroup meetings running throughout the day, just as Greek negotiations start to bristle again.
Trade Idea:
• Canadian job numbers failed to impress on Friday at the same time as US numbers coming in well above expectations. At the same time, oil prices have filed to rebound significantly.
A good way to play this is a HIGHER trade predicting that the USD/CAD will close above 1.2600 in 21 days time for a potential return of 113%.
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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