Pounds To Dollars Daily Candle Chart - GBP/USD 14th July 2009
It’s all a bit flat this morning, but this certainly won’t last. Yesterday, stock markets rallied on rumours that the profits from investment bank Goldman Sachs will tip $2 billion. This was the first positive catalyst that investors have had in a few days and they grabbed it with both hands. This morning we’re seeing the calm before the storm with Goldman’s actual results being released just before the opening of US markets. It could therefore be a volatile open for the Dow Jones depending on how well Goldman’s actual results are received. It’s not just Goldman’s results that could excite today, we have a raft of important economic announcements to come this morning. From 08.30 GMT we have UK CPI and RPI which will give trades an idea of the current inflation expectations for the UK economy. This could have a knock effect on the pound especially with MPC member Posen speaking at the same time. At 09.00 we have German and European ZEW economic sentiment which could impact the euro. Then at 12.30 we get US retails sales and PPI. It’s quiet now, but this really could be the calm before the storm today.
Fixed Odds Suggested Trade
With Goldman Sachs releasing their results from midday, and a raft of important economic announcements, dollar pairs could be in play today with the pound vs dollar potentially the most active of all the pairs. It’s relatively calm until 08.30 GMT so it may be a good time to profit from the coming volatility before it happens. A one day breakout trade could be a good way to play this as the GBP/USD can go in either direction and the trade still winning as long as it goes somewhere fast as it could do today.
Good luck with this fixed odds suggestion and remember, you can find all the latest currency trading news, live news, latest prices on the currency charts, latest movements on the index charts or commodity prices, by following the appropriate links. Remember also that if you are looking for a good fx broker or fixed odds broker, then again just click the relevant link and this will take you to a new page on the fixed odds site, and good luck with this one.
