Binary Option traders enjoyed yesterday’s correlation opportunity after CPI publication.
As discussed, the EUR shared currency and DAX index tend to move in opposite ways after inflation reports or monetary reports.
Inflation turned surprisingly high yesterday, and the EUR/USD pushed up 2.25%. At the same time, binary traders bought also put options on the DAX, leveraging their trading portfolio on that negative correlation. (See Chart )
ADP appetizer coming up today at 12:15 GMT
This report is gaining momentum fast and market reaction is high.
Good report should support the dollar and correct yesterday’s amazing EUR/USD move.
Bad report and gold should target $1,210 an ounce.
Traders have been following Greece payment schedule as tensions accumulate.
Next Payment on June 5th.
ECB President Draghi should speak about that today at the 12:30 GMT press conference.
Assets to trade will be the EUR currency, and EU markets such as: DAX, CAC, and the IBEX.