• This morning, the US dollar index is continuing to get its trend back on track, pushing yen pairs higher and limiting gains on the dollar pairs. Meanwhile, the S&P 500 is rising after a blip on Friday.
• The USD/JPY is rallying for the third straight day, lifting all other yen pairs especially the GBP/JPY which is up 0.55%.
• Elsewhere, the NZD/USD and AUD/USD are lagging after Chinese growth slowed to its lowest level in 25%, even as it overtook the US.
Coming up today: • Coming up today we have German ZEW economic sentiment at 10.00.
• Canadian manufacturing sales follow at 13.30.
• From 15.00 we switch to the US, with FOMC member Powell speaking alongside the release of NAHB housing market index. Trade Idea:
• The USD/JPY is slowly climbing back higher and while the trend is yet to regain its previous strength, the longer term direction is still higher.
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.
Dollar Getting Back On Track
Morning Report: 8.30 London
• This morning, the US dollar index is continuing to get its trend back on track, pushing yen pairs higher and limiting gains on the dollar pairs. Meanwhile, the S&P 500 is rising after a blip on Friday.
• The USD/JPY is rallying for the third straight day, lifting all other yen pairs especially the GBP/JPY which is up 0.55%.
• Elsewhere, the NZD/USD and AUD/USD are lagging after Chinese growth slowed to its lowest level in 25%, even as it overtook the US.
Coming up today:
• Coming up today we have German ZEW economic sentiment at 10.00.
• Canadian manufacturing sales follow at 13.30.
• From 15.00 we switch to the US, with FOMC member Powell speaking alongside the release of NAHB housing market index.
Trade Idea:
• The USD/JPY is slowly climbing back higher and while the trend is yet to regain its previous strength, the longer term direction is still higher.
A good way to play this is a HIGHER trade predicting that the USD/JPY will close above 118.50 in 7 days time for a potential return of 108%.
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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