Japanese GDP estimates hit sour note

Morning Report: 08.30 London

• This morning the yen pairs are on the rise as a risk averse environment sees money flow back into the yen. Ironically this is happening on the back of below par Japanese GDP figures and a slump in revised industrial production.
 

• The GBP/JPY is up 0.29%, with the EUR/JPY up 0.16%.
 

• Generally markets have a positive bias helped by strong momentum on Wall Street. Even the dollar index is finding support this morning.
 

• The big movers are commodities, with Silver and Gold extending recent gains.
 

Coming up today:
• It’s a US bank holiday so it’s a very quiet day today, with a Eurogroup meeting the only item of note.

Trade Idea:
• The pound looks to be in the early stages of printing a classic reversal candlestick which could spell and end to the recent bull run.

A LOWER trade looks the order of play here. A LOWER trade predicting that the GBP/USD will close below 1.6725 in 4 days could return 125%.

This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. 

Summary: