Binary.com Daily Market Report (17th Nov)
November 17, 2014 9:36 amVideo
Latest News
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Yen Rallies On Japan Recession
Morning Report: 08.30 London
• In the late hours of Sunday night/Monday morning, the Japanese economy dropped some unexpected news. Instead of its economic activity increasing by 0.5% in the last quarter, GDP actually dropped by 0.4%. This formally slides the Asian powerhouse back into recession for the fourth time since 2008.
• The yen acts as a safe haven in these times, even when the news is bad for Japan and so it’s no surprise to see the yen pairs dropping lower this morning.
• By contrast, the New Zealand dollar is out performing after a strong set of retail sales and core retail sales. The Aussie dollar is riding higher in sympathy.
• Overall, the S&P 500 is opening up on the back foot, with the dollar index dragged lower by the strong yen.
Coming up today:
• Coming up today we have MPC member Haldane speaking at 09.30, followed by more central bank talk with the German Buba monthly report at 11.00. ECB president speaks at 14.00.
• From 13.00 we switch to the US for the latest Empire Sate manufacturing index, followed by Capacity utilisation and industrial production at 14.15.
Trade Idea:
• The NZD/USD has been forging its own path of late and this relative strength could be enough to counter the pervasive strength of the dollar index.
A good way to play this is a HIGHER trade predicting that the NZD/USD close above 0.8000 in 30 days time for a potential return of 145%.
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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