Yen Reversal, but
Dollar Struggles

Morning Report: 06.30 London

• This morning the US Dollar is on the back foot again, despite a reversal for the Yen and USD/JPY. For the first in many session, the Yen pairs are on the rise.

• Commodities are enjoying renewed interest, with oil prices pushing to multi-month highs. The USD/CAD has continued it’s downwards momentum as a result.

• The big movers are the Australian and New Zealand Dollar, with the AUD/JPY enjoying the biggest gains.

• Meanwhile, the EUR/GBP momentum has finally cracked, with the pair slipping lower on Pound strength.

Coming up today:

• Today we have UK CPI at 09.30, released alongside RPI. A small increase in RPI is expected. PPI input is released at the same time.

• Following this, we have US import prices at 13.30.

Trade Idea:

• The EUR/GBP is pulling back in the short-term, but the longer-term momentum is still pointing higher as Brexit uncertainty weighs on the Pound.

                     

In this case, it may pay to buy the dip and a good way to play this is a HIGHER trade predicting that the EUR/GBP will close below 0.7950 in 21 days for a potential return of 151%.

                         
                                                         

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.