• This morning, Japanese markets have stabilised on hopes of a delay to the planned tax hike and the prospect of a snap election. The moves has helped investors regain their confidence, easing demand for the yen, with the USD/JPY and other yen pairs heading back towards the highs.
• Meanwhile, gold and silver are staging a recovery that is rapidly approaching over bought levels.
• The NZD/USD continues to out perform other dollar pairs and the Australian dollar.
• The euro also continues to impress after last week’s better than expect GDP figures.
• Overall, both the S&P 500 and dollar index are flat, though both are holding at the highs.
Coming up today: • Coming up today, we have UK CPI and RPI at 09.30 ,with no significant change expected.
• From 10.00, we get German ZEW economic sentiment.
• This is followed by US PPI at 13.30. Trade Idea:
• Gold is nudging higher again today, but the long term trend is hard to ignore. Until the US dollar makes a significant trend change, it makes sense to fade these short term rallies.
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.
Japan Recovers On Tax Hike Delay Hope
Morning Report: 08.30 London
• This morning, Japanese markets have stabilised on hopes of a delay to the planned tax hike and the prospect of a snap election. The moves has helped investors regain their confidence, easing demand for the yen, with the USD/JPY and other yen pairs heading back towards the highs.
• Meanwhile, gold and silver are staging a recovery that is rapidly approaching over bought levels.
• The NZD/USD continues to out perform other dollar pairs and the Australian dollar.
• The euro also continues to impress after last week’s better than expect GDP figures.
• Overall, both the S&P 500 and dollar index are flat, though both are holding at the highs.
Coming up today:
• Coming up today, we have UK CPI and RPI at 09.30 ,with no significant change expected.
• From 10.00, we get German ZEW economic sentiment.
• This is followed by US PPI at 13.30.
Trade Idea:
• Gold is nudging higher again today, but the long term trend is hard to ignore. Until the US dollar makes a significant trend change, it makes sense to fade these short term rallies.
A good way to play this is a LOWER trade predicting that gold will close below $1175.00 in 7 days time for a potential return of 245%.
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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