• After Janet Yellen’s testimony last night, markets are inferring that the next Fed Chair nominee will extend monetary stimulus. Stock markets have continue to hit new highs, while the main risk on currency – the Australian dollar is attempting to reverse recent losses.
• The British pound continues to perform well, especially compared to the euro, as the EUR/ GBP drops for the third straight day.
Coming up today:
• Coming up today we have European inflation data at 10.00, with the all day ECOFIN meetings running throughout the day.
•From 13.30 we switch to North America with Canadian Manufacturing sales released alongside Empire State Manufacturing & import prices. US industrial production follows at 14.15.
Trade Idea:
• The USD/JPY has built some momentum this week, and judging by the weekly chart could have room for higher levels.
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.
Markets rise on prospect of more stimulus
Morning Report: 08.45 London
• After Janet Yellen’s testimony last night, markets are inferring that the next Fed Chair nominee will extend monetary stimulus. Stock markets have continue to hit new highs, while the main risk on currency – the Australian dollar is attempting to reverse recent losses.
• The British pound continues to perform well, especially compared to the euro, as the EUR/ GBP drops for the third straight day.
Coming up today:
• Coming up today we have European inflation data at 10.00, with the all day ECOFIN meetings running throughout the day.
• From 13.30 we switch to North America with Canadian Manufacturing sales released alongside Empire State Manufacturing & import prices. US industrial production follows at 14.15.
Trade Idea:
• The USD/JPY has built some momentum this week, and judging by the weekly chart could have room for higher levels.
• A HIGHER trade predicting that the USD/JPY closes above 100.50 in 17 days could return 115%.
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.
Summary:
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