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Fed Sets Course & UK Not Done Yet

Binary.com Daily Financial Review July 28th 2016

fed sets courseMorning Report: 09.30 London

  • This morning, the US dollar index continues to retreat despite a largely positive outlook painted by the US Federal reserve. The outlook is complicated owing to the dollar’s safe haven status which means it is in less demand as outlooks brighten. At the same time, the Fed may have pointed to some positives in the economy, but the next rate hike date keeps being shifted further into the future along with subsequent increases.

Fed sets course

  • The USD/JPY is also on the back foot as money flows from the dollar.

Fed Sets Course

  • Elsewhere, the pound rose yesterday on the back of better than expected quarterly GDP data. The gains were tempered by surveys which pointed to a gloomier outlook going forward.

Fed Sets course

Fed sets course

 

 

 

 

  • The euro continues to perform well, though rallying hard against the dollar yesterday and the pound.

Fed sets course

Fed sets course

 

  • Elsewhere, the Australian dollar continues its positive if the volatile is weak.

fed sets course

  • Oil prices continue to sink as over capacity stalks energy markets.

fed sets course

 

Coming up today:

  • Coming up today, we have Spanish unemployment rate at 08.00
  • German unemployment change at 08.55.
  • US unemployment claims then follow at 13.30.

Trade Idea:

  • USD/CAD has pulled back, largely as a result of the weaker dollar. The latter effect may be temporary, while lower oil prices have been a more persistent problem.
  • We could, therefore, see more upside for the USD/CAD in the coming month.

fed sets course

 

A good way to play this is a HIGHER trade predicting that the USD/CAD will close above 1.3175 in 35 days time for a potential return of 121%

fed sets course

fed sets course

N.B. 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. 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.

 

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