Markets Hold The Highs While Euro Struggles

Morning Report: 08:45 London

• This morning, world markets continue to hold at the highs, but the situation is looking increasingly stretched, especially as the euro continues to tick back.                                                

• The Australian dollar is marching higher regardless, with the AUD/JPY’s up trend looking a little too sharp.
                  
                             

                             
                                                                                                                                                        
• Commodities are making slow and steady gains, but are being pegged back by a resurgent US dollar.

                             

• The yen pairs are nudging back in the face of this strong dollar, with the EUR/JPY particularly under pressure.

                             

Coming up today:

• The recent volatility holiday is unlikely to halt today, with a light economic calendar on the cards.

• The UK does have some interesting data though, with Claimant Count change, the unemployment rate and average earnings due at 09.30. Unemployment is expected to drop, while the average earnings index is expected to show a slowing increase. Following this, MPC member Broadbent speaks at 14.45.

• From 15.30, we switch to the US with the Federal Budget balance probably the bigger item at 19.00.

• At 20.00, we have the rate statement from the RBNZ.

Trade Idea:

• The AUD/JPY upswing is looking too sharp. While it could still bumble higher, it is unlikely to strike higher so forcefully.

                             

A good way to play this could be a LOWER trade predicting that the AUD/JPY will close below 95.75 in 9 days time. This could return 129% if successful.

This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. 

Summary: