Markets Beat Retreat On Paris Attack

Morning Report: 06.15 London

• Following the horrific attacks in Paris on Friday night, markets generally gapped lower, but the selling pressure has been controllable with a recovery setting in as we move through the morning. The dollar index is in demand, but the Japanese yen has been the safe haven of choice for the majority of investors. 

                        

• The EUR/USD shows this trend with a small gap open and subsequent recovery, while the EUR/JPY saw a larger opening gap.                       

                             
• Gold spiked higher at the open against the previous down trend.

Coming up today:

• From 10.00 we have European CPI, followed by ECB president Draghi speaking at 10.15.

• From 13.30, we switch to North America for Canadian manufacturing sales and US Empire state.

Trade Idea:

• The Australian dollar had been on a good run, but hit the top of its trading range recently. A pull back looks to be on the cards.         

A good way to play this is a LOWER trade predicting that the AUD/USD will close below 0.7100 in 10 days time for a potential return of 125%.        

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