• This morning, the British pound is once again a poor performer as more polls point to a tighter EU referendum result. Sterling is down across the board, especially compared to the Japanese yen which continues to pick up safe haven momentum.
• The USD/JPY has left Monday’s opening gap unchallenged, while the US dollar index nudges lower.
• Elsewhere, the New Zealand dollar is struggling.
Coming up today:
• Coming up today we have UK inflation data at 09.30, with a small increase expected for CPI and RPI. PPI output is released at the same time.
• Then at 10.00 we get European employment change and industrial production.
• From 13.30 we switch to the US for retail sales data. Import prices follow at 13.30.
Trade Idea:
• The GBP/JPY has been in a tailspin in the build up to the referendum and this is likely to continue as the leave campaign builds momentum.
Disclaimer: 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 accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
Pound Feels Polling Pressure
Morning Report: 06.30 London
• This morning, the British pound is once again a poor performer as more polls point to a tighter EU referendum result. Sterling is down across the board, especially compared to the Japanese yen which continues to pick up safe haven momentum.
• The USD/JPY has left Monday’s opening gap unchallenged, while the US dollar index nudges lower.
• Elsewhere, the New Zealand dollar is struggling.
Coming up today:
• Coming up today we have UK inflation data at 09.30, with a small increase expected for CPI and RPI. PPI output is released at the same time.
• Then at 10.00 we get European employment change and industrial production.
• From 13.30 we switch to the US for retail sales data. Import prices follow at 13.30.
Trade Idea:
• The GBP/JPY has been in a tailspin in the build up to the referendum and this is likely to continue as the leave campaign builds momentum.
A good way to play this is a LOWER trade predicting that the GBP/JPY will close below 149.00 in 8 days (the day before the referendum) for a potential return of 146%.
Disclaimer: 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 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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