Markets step off the gas

Morning Report: 08.15 London

• Markets have slowed down their appetite for risk taking this morning, with traders more keen to book profits than explore new angles. The S&P 500 is dropping off, while the dollar index continues its down trend.


• The yen pairs are seeing the biggest movement, with the AUD/JPY dropping by 0.59%.

• The weakest currency overall appears to be the New Zealand dollar, with the Kiwi off by 0.39%.Tonight’s rate statement is expected to show no change.



• Gold is also pulling back after a strong showing yesterday.
 

 

• The pound is also under pressure despite yesterday’s promising GDP estimates.
 

 

Coming up today:

• We’ve a very light day ahead today, with tonight’s NZ rate statement expected to be the main highlight at 20.00.

• Before this we have the Federal budget balance at 19.00.

Trade Idea:

• The USD/JPY’s recent pull back brings it right up to support, but with the light news flow and continued US dollar weakness, we could see further selling from here.

This Daily Market Report is written by Dave Evans, Professional Trader. This is presented as an idea to stimulate binary option trading ideas and is not a financial advice.

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