• This morning, the Japanese yen is in control, as the USD/JPY drops for the fifth time in seven sessions. The pair appears to have topped around the 121.50 region, with the move continuing following the re-election of Shinzo Abe. The USD/JPY is off by 0.47% this morning, with other yen pairs following a similar trend.
• The GBP/JPY is under performing after heavy falls yesterday, while the EUR/JPY drops 0.29% and the AUD/JPY 0.26%.
• It’s a different story with the dollar pairs and it’s clear that the yen pair sell-off is in large part due to the dollar index easing back. The AUD/USD is down 0.22%, with the EUR/USD up 0.18%. Even the USD/CAD which has push higher rapidly recently is pulling back this morning.
• Gold is bucking the trend slightly with a small rise this morning following heavy selling yesterday.
• The S&P 500 meanwhile is struggling to reverse its recent down swing.
Coming up today: • This morning we have the release of UK bank stress test results, alongside the BOE financial stability report and FPC statement at 07.00. BOE governor Carney speaks at 09.00.
• From 08.00 we have a serious of European releases, starting with French flash manufacturing PMI at 08.00, followed by the German data at 08.30 and then pan European data at 08.30. Services PMI data is released alongside each time.
• We switch back to the UK at 09.30 for the latest CPI and RPI data. Analysts are predicting a drop to 1.2% and a drop do 2.2% respectively.
• At 10.00 we switch back to Europe for German ZEW economic sentiment.
• Then at 13.30 we have Canadian manufacturing sales and US building permits. Trade Idea:
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.
Yen In Control
Morning Report: 9.00 London
• This morning, the Japanese yen is in control, as the USD/JPY drops for the fifth time in seven sessions. The pair appears to have topped around the 121.50 region, with the move continuing following the re-election of Shinzo Abe. The USD/JPY is off by 0.47% this morning, with other yen pairs following a similar trend.
• The GBP/JPY is under performing after heavy falls yesterday, while the EUR/JPY drops 0.29% and the AUD/JPY 0.26%.
• It’s a different story with the dollar pairs and it’s clear that the yen pair sell-off is in large part due to the dollar index easing back. The AUD/USD is down 0.22%, with the EUR/USD up 0.18%. Even the USD/CAD which has push higher rapidly recently is pulling back this morning.
• Gold is bucking the trend slightly with a small rise this morning following heavy selling yesterday.
• The S&P 500 meanwhile is struggling to reverse its recent down swing.
Coming up today:
• This morning we have the release of UK bank stress test results, alongside the BOE financial stability report and FPC statement at 07.00. BOE governor Carney speaks at 09.00.
• From 08.00 we have a serious of European releases, starting with French flash manufacturing PMI at 08.00, followed by the German data at 08.30 and then pan European data at 08.30. Services PMI data is released alongside each time.
• We switch back to the UK at 09.30 for the latest CPI and RPI data. Analysts are predicting a drop to 1.2% and a drop do 2.2% respectively.
• At 10.00 we switch back to Europe for German ZEW economic sentiment.
• Then at 13.30 we have Canadian manufacturing sales and US building permits.
Trade Idea:
Aside from a couple of short forays, the GBP/USD has been stuck in a trading range since the middle of November. However, we’ve such a big trading day ahead that this range is unlikely to continue unfettered.
The direction is unclear however, so a good way to play this could be an IN/OUT predicting that the GBP/USD will end outside of either 1.5800 or 1.5400 in 3 days time for a potential return of 234%.
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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