Markets stable, euro weak

Morning Report: 09.00 London

• This morning, stock markets are stable, with the S&P 500 pushing higher again. Markets have been encouraged by the easing of tensions in Gaza and Ukraine. Meanwhile, the dollar is still holding above trend.                                                                                                             

                               
                                                                                                                                                                         
                               

• The euro is struggling though after Friday’s huge rally. The EUR/GBP is down 0.18%.

                               
         
                               

                               

• The USD/JPY is also down slightly, but with movements so far not a patch on the volatility seen last week.

                               
                         
Coming up today:

• We’ve a quiet day ahead today with UK CB leading index at 10:00 and Canadian housing starts at 13.15 the only items of note.


Trade Idea:

• With the yen displaying unusual volatility and the euro weak relative to its peers, there could be further downside to come for the EUR/JPY.

A good way to play this is a LOWER trade predicting that the EUR/JPY will close below 136.50 in 4 days time. This could return 140% if successful.

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Summary: