BOJ Stands Pat

Morning Report: 06.30 London

• This morning, the Japanese Yen is stronger, pushing most Yen pairs lower after the Bank of Japan opted to keep rates unchanged, while warning on lowered inflation expectations. The USD/JPY is on the defensive, while the EUR/JPY faces losses for the second day in a row.

• There were losses for the EUR/USD too yesterday, allowing the Dollar to make a rate positive day.

• Commodities have trickled lower, with oil dipping below $40 again. The Australian and New Zealand Dollars have suffered as commodities generally come back off from recent highs.

Coming up today:

• Today we have US core retail sales released alongside US PPI and Empire State Manufacturing.

Trade Idea:

• The Euro unwind could have further to go, as such a LOWER trade on the EUR/USD could be a good bet.
                      

One way to play this is a LOWER trade predicting that the EUR/USD will close below 1.1000 in 10 days time could return 234% if successful.

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