• This morning, markets have a slight upside edge as traders bet that the Fed won’t be doing anything about its asset purchase policy any time soon.
• The yen pairs have been the big winners as the US dollar trumps the yen.
• The GBP/JPY is performing particularly well, up 0.38% ahead of a very busy day of UK data.
Coming up today:
• Coming up today we have German Ifo Business climate at 09.00.
• From 09.30 we have a very busy UK data set which includes the unemployment rate, claimant count change and the voting patterns from the last MPC meetings.
• From 19.00 we have the latest Fed economic projections, statement and press conference from 19.30.
Trade Idea:
• Gold has been rangebound ahead of today’s Fed decision, but it’s unlikely to remain following the announcement. Therefore a breakout trade could be the order of play.
Pound steady ahead of data deluge
Morning Report: 08.45 London
• This morning, markets have a slight upside edge as traders bet that the Fed won’t be doing anything about its asset purchase policy any time soon.
• The yen pairs have been the big winners as the US dollar trumps the yen.
• The GBP/JPY is performing particularly well, up 0.38% ahead of a very busy day of UK data.
Coming up today:
• Coming up today we have German Ifo Business climate at 09.00.
• From 09.30 we have a very busy UK data set which includes the unemployment rate, claimant count change and the voting patterns from the last MPC meetings.
• From 19.00 we have the latest Fed economic projections, statement and press conference from 19.30.
Trade Idea:
• Gold has been rangebound ahead of today’s Fed decision, but it’s unlikely to remain following the announcement. Therefore a breakout trade could be the order of play.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
Summary:
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