Morning Report: 06.45 London
- While Belgium counts the tragic cost of yesterday’s terror strikes, financial market reaction remains relatively muted. Gold rose slightly but has since fallen back.
- The dollar index is still in recovery mode, with two days of minor gains.
- The euro is on the back foot again as yesterday’s attack creates uncertainty. European data was also on the negative side, with mixed PMI data and poor German ZEW economic sentiment.
- The big loser over the last week has been the British pound after inflation dropped below expectations and public borrowing ballooned.
Coming up today:
- Coming up today, we have German Buba President Weidmann speaking at 12.40. Following this, FOMC member Bullard speaks at 13.00.
- From 14.00, we get US new home sales, followed by crude oil inventories at 14.30.
Trade Idea:
- The British pound continues to weaken as the prospect of a rate hike waves ever further into the distance.
- The GBP/AUD took a heavy hit yesterday and that could well continue as Brexit uncertainty continues.
- A good way to play this is a LOWER trade predicting that the EUR/USD will close below 1.8500 in 21 days for a potential return of 146%.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
Powered by: Binary.com
