• This morning, Australia is still coming to terms with the rapid disposition of former PM Tony Abbot. The initial reaction was positive yesterday, but there has been a clear volte-face this morning after the release of the minutes from the last monetary policy meeting. The AUD/JPY is down over 1.30%, with the AUD/ USD not far behind. The NZD/USD is down in sympathy. The GBP/AUD is also firmer after days of selling.
• The Yen pairs are under pressure as the Dollar index continues to take its foot off the gas.
• The Dollar is positive this morning, but is hardly setting the world alight.
Coming up today:
• Coming up today we have UK inflation data from 13.30, with CPI and RPI expected to dip by 0.1% each.
• Following this we have German ZEW economic sentiment at 10.00, with EU wide data released at the same time.
• In addition to this we have US core retail sales at 13.30, released alongside the empire state manufacturing index. Capacity utilisation follows at 14.15, with industrial production at the same time.
Trade Idea:
• The Yen really seems to be picking up the baton from the US Dollar, with broad selling this morning.
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.
BOE Set to Stay The Course
Morning Report: 08.00 London
• This morning, Australia is still coming to terms with the rapid disposition of former PM Tony Abbot. The initial reaction was positive yesterday, but there has been a clear volte-face this morning after the release of the minutes from the last monetary policy meeting. The AUD/JPY is down over 1.30%, with the AUD/ USD not far behind. The NZD/USD is down in sympathy. The GBP/AUD is also firmer after days of selling.
• The Yen pairs are under pressure as the Dollar index continues to take its foot off the gas.
• The Dollar is positive this morning, but is hardly setting the world alight.
Coming up today:
• Coming up today we have UK inflation data from 13.30, with CPI and RPI expected to dip by 0.1% each.
• Following this we have German ZEW economic sentiment at 10.00, with EU wide data released at the same time.
• In addition to this we have US core retail sales at 13.30, released alongside the empire state manufacturing index. Capacity utilisation follows at 14.15, with industrial production at the same time.
Trade Idea:
• The Yen really seems to be picking up the baton from the US Dollar, with broad selling this morning.
There could be further downside ahead and a good way to play this is a LOWER trade predicting that the USD/ JPY closes below 118.00 in 27 days time could return 196% 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.
Summary:
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