Pound Rallies on Latest Poll Data

Morning Report: 09.00 London

• This morning, world markets are on the rise, led by renewed confidence in China. The S&P 500 pausing after a strong rally yesterday, while the dollar index is volatile, but holding at the highs.                                                                                              

                               
                                                                                                                                                                   
                               

• The British pound is seeing the most interest, with the GBP/JPY up 0.42%, despite yesterday’s poor PPI and below expectation RPI figures. The latest opinion polls continue to give the No camp a slender for consistent lead.

                               

• Elsewhere, the Australian dollar has recommenced its down swing.

                               

Coming up today:

• This morning, we have a UK focus with the latest claimant count change data and average earnings index. We also see the release of the latest MPC voting patterns.

• From 13.30 we switch to the US with core CPI data, followed by FOMC economic projections at 19.00 and the latest Fed statement

Trade Idea:

• No changes are expected from the Fed today, as such it could pay to make a trade based on the status quo.

• The USD/JPY trend has paused, but has not shown any significant reversal signals either.

A good way to play this is a HIGHER trade predicting that the USD/JPY will close above 107.50 in 5 days time for a potential return of 125%.

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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.

Summary: