Binary.com Daily Market Report Oct 21st 2016: Earthquake Hits Japan

• This morning, the Japanese yen is on the back foot on reports of a powerful earthquake in the region. The USD/JPY is slipping lower with other yen pairs following the trend.

• The US dollar is nudging higher by contrast despite mixed US data last night.

• Dollar pairs are generally struggling, with the AUD/USD performing well after heavy selling yesterday.

• The euro continues to struggle with the EUR/USD slipping to fresh multi-month lows.

Coming up today: 

• Coming up today, we have UK public sector net borrowing at 09.30.
• From 13.30, we get Canadian core CPI and retail sales.

Trade Idea: 

• The EUR/USD continues to struggle and there could be a further downside as the dollar regains confidence.

• A good way to play this is a LOWER trade predicting that the EUR/USD will close below 1.09000 for a potential return of 111%.

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