• This morning, the US dollar is back in the driving seat after weak Japanese data this morning and speculation that Japanese PM Abe’s sales tax hike will have to be delayed. The move puts the dollar index back near the highs and the S&P 500 heading for fresh new highs.
• The yen pairs are the big winners as money flows from the yen and into the US dollar.
• By contrast, the dollar pairs are on the back foot, with the AUD/USD and NZD/USD seeing the heaviest selling.
Coming up today: • We have little data of note today owing to a bank holiday in France, Canada and the US.
• Later this evening we have t he RBNZ financial stability report at 20.05. Trade Idea:
• The USD/JPY is on the rise again and given the dollar’s pervasive strength, it may well pay to ride this trend until its done.
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.
Dollar Back In The Driving Seat
Morning Report: 08.30 London
• This morning, the US dollar is back in the driving seat after weak Japanese data this morning and speculation that Japanese PM Abe’s sales tax hike will have to be delayed. The move puts the dollar index back near the highs and the S&P 500 heading for fresh new highs.
• The yen pairs are the big winners as money flows from the yen and into the US dollar.
• By contrast, the dollar pairs are on the back foot, with the AUD/USD and NZD/USD seeing the heaviest selling.
Coming up today:
• We have little data of note today owing to a bank holiday in France, Canada and the US.
• Later this evening we have t he RBNZ financial stability report at 20.05.
Trade Idea:
• The USD/JPY is on the rise again and given the dollar’s pervasive strength, it may well pay to ride this trend until its done.
A HIGHER trade predicting that the USD/JPY will rise and close above 116.25 in 9 days time could return 122% if successful.
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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