• This morning, the Russian Ruble is at least stable for now after the recent failed attempt to stop the currency crashing. Lower prices may indeed be on the way, but traders appear to be pausing for breath.
• This mood appears to be reflected in stock markets which are attempting to recover from recent losses and the yen pairs which are clawing back from two days of big falls this week.
• The USD/JPY is up 0.67%, the GBP/JPY 0.52% and the EUR/JPY 0.46%.
• Dollar pairs are on the back foot as safe haven demand diminishes, allowing money to flow out from the yen and back into the US dollar.
• The AUD/USD and NZD/USD in particular are suffering, with both pairs down by more than 0.75%. Low commodity prices are still weighing heavily on the Aussie.
Coming up today: • Coming up today we have UK claimant count change and the average earnings index, with the later of particular importance. At the same time we get the latest unemployment rate and the voting pattern from the last MPC meeting all at 09.30.
• From 13.30 we have Canadian wholesale sales and US CPI.
• Then at 19.00, we get the big ticket which is US FOMC economic projections and the latest Fed statement. The press conference follows at 19.30. 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.
All Eyes On Fed As Russia Stands On The Brink
Morning Report: 9.00 London
• This morning, the Russian Ruble is at least stable for now after the recent failed attempt to stop the currency crashing. Lower prices may indeed be on the way, but traders appear to be pausing for breath.
• This mood appears to be reflected in stock markets which are attempting to recover from recent losses and the yen pairs which are clawing back from two days of big falls this week.
• The USD/JPY is up 0.67%, the GBP/JPY 0.52% and the EUR/JPY 0.46%.
• Dollar pairs are on the back foot as safe haven demand diminishes, allowing money to flow out from the yen and back into the US dollar.
• The AUD/USD and NZD/USD in particular are suffering, with both pairs down by more than 0.75%. Low commodity prices are still weighing heavily on the Aussie.
Coming up today:
• Coming up today we have UK claimant count change and the average earnings index, with the later of particular importance. At the same time we get the latest unemployment rate and the voting pattern from the last MPC meeting all at 09.30.
• From 13.30 we have Canadian wholesale sales and US CPI.
• Then at 19.00, we get the big ticket which is US FOMC economic projections and the latest Fed statement. The press conference follows at 19.30.
Trade Idea:
The Australian dollar has continued to fall as commodity prices back off, with the AUD/USD one of the worst performing major pairs in the last month.
With the dollar index potentially back in control, we could see further downside from here. A good way to play this is a LOWER trade predicting that the AUD/USD will close below 0.8125 in 14 days time for a potential return of 132%.
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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