Markets Solid Despite Crimea Referendum

Morning Report: 08:45 London

• This morning, financial markets are putting in a good performance, with equities rallying and ‘risk-on’ FX pairs rising. The referendum in Crimea was almost a full gone conclusion and the result came in as expected. What markets were wary of what an explosive political reaction – something that so far seems to have passed without incident. Pressure remains on Russia however, with the ruble stuck firmly at record lows.

• Overnight, the Australian and New Zealand dollars are performing well as the pressure on China eased over the weekend.

• Commodities are off the boil as the dollar index finds support.

                       
                       
Coming up today:
• Coming up today, we have European CPI data at 10.00.
• From 12.30, we switch to the US with Empire State manufacturing and TIC long term purchases at 13.00. Capacity utilisation and industrial production follow at 13.15.

Trade Idea:
• The USD/JPY is rebounding this morning after hitting long term support levels. The dollar index is long overdue a rally and the USD/JPY could be a good pair to ride this.

                                     

A HIGHER trade predicting that the USD/JPY closes above 102.25 in 4 days time could return 165% if successful.

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

Summary: