May 25th 2016: Oil Prices Test $50

• This morning, the dollar index is reversing, as pressure from oil prices push the Greenback lower. Oil prices tested $50 yesterday.

• The USD/ JPY continues to dance to the dollar’s tune, dropping back this morning.

• The euro is performing well so far this morning after selling off yesterday despite better than expected German Ifo Business Climate. The pound is lagging the euro, helping the EUR/ GBP to lift higher.

• Coming up today we have UK second estimate GDP at 09.30, released alongside preliminary business investment data.
• Then at 11.10, FOMC member Bullard speaks.
• From 13.30 we get US core durable goods orders and unemployment claims.
• Pending home sales then follow at 15.00.

Trade Idea: 

• The euro is on the rise this morning, but the general trend is still firmly negative. The renewed Greek bailout offers further uncertainty and this could put further pressure on the euro.

• A good way to play this is a LOWER trade predicting that the EUR/ USD closes below 1.1100 in 21 days for a potential return of 180%

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