Finally, we are seeing some movements in the market as Monday took it’s time in getting things started for this trading week. Later in the trading day the Australian Dollar (AUD) saw a slight rise in the wake of the Reserve Bank Australia (RBA) minutes of their meeting being announced.
Up north, there is another silent prowler that is gaining slowly but surely against the greenback (USD), the Canadian Dollar (CAD). The USD / CAD is pulling back today despite a lack of movement in Canada’s most important export, the oil.
In the past, the EUR / USD suffered very large setbacks when discussions brought up the Greek bailout. This week the same discussions are taking place however the markets have hardly moved. Over the past two weeks, the EUR / USD traded in a 200 pip range. Yesterday saw a temporary slide which came about Monday’s discussion between Greece and the Eurozone’s finance ministers. Other than that strangely enough no major market movements were noted.
Remember back around mid-January when the Swiss National Bank decided to change the game where the EUR / CHF were concerned? Well, since then the Swiss Franc (CHF) has gained momentum and they have been on the up and up with most of their major counter pairs. There is a very clear bullish pattern that is seen on all the technical graphs for the Euro (EUR) and Swiss Franc (CHF) pair, in particular.
Onto our missed precious metal Gold. Sadly, still following the bearish trend and continuing a three-day counter trend decline. Seems the demand for this commodity has also perished. Analysts had high hopes to see more gains and expected it would be climbing with the trend in light of the Greek crisis. What further lends itself to the increase of gold on a normal economical move would be other factors including the continued conflicts in the Ukraine despite the ceasefire agreement as well as the threats of IS terrorist group now in Libya. Should the price of oil continue to remain weak then we gather that deflation will not be much threat to Great Britain and Europe and should not have a greater effect on the USA as a whole, however, this will then keep the demand for Gold at a low in most major economies and continue to weaken the commodity.
Today’s Binary Options Trading Tip:
The week started off fairly quietly amidst all the meetings, announcements, etc. I will still Call on most major pairs that work well with the USD. Put on gold, this commodity seems like it is not surviving this epic storm in the markets turmoil. A Call is in favor of the CHF today so feel free to pair it with any major, I’d exclude the USD though.
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