• This morning, the Japanese yen has continued to dominate currency movements, slumping to a seven year low against the US dollar. The main yen pairs are all trading at recent highs, led once again by the EUR/JPY.
• The EUR/JPY is up 0.36%, with the USD/JPY up 0.17%
• The euro continues to out perform, with the EUR/GBP up 0.30% and the EUR/USD up 0.20%.
• The NZD/USD is recovering after heavy selling on Wednesday.
Coming up today: • Today we have a busy day for the euro, with French manufacturing and German manufacturing already released and coming in below expectations.
• Still to come we have European wide Flash Manufacturing and Flash Services.
• Following this, we have UK retail sales at 09.30, followed by UK retail sales at 09.30.
• This afternoon, we have Canadian wholesale sales, followed by CPI and unemployment claims. Trade Idea:
• The USD/JPY has shown no signs of retreating and until this trend shows signs of a serious correction, there’s no point fighting the flow.
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.
Yen slumps to seven year low
Morning Report: 08.30 London
• This morning, the Japanese yen has continued to dominate currency movements, slumping to a seven year low against the US dollar. The main yen pairs are all trading at recent highs, led once again by the EUR/JPY.
• The EUR/JPY is up 0.36%, with the USD/JPY up 0.17%
• The euro continues to out perform, with the EUR/GBP up 0.30% and the EUR/USD up 0.20%.
• The NZD/USD is recovering after heavy selling on Wednesday.
Coming up today:
• Today we have a busy day for the euro, with French manufacturing and German manufacturing already released and coming in below expectations.
• Still to come we have European wide Flash Manufacturing and Flash Services.
• Following this, we have UK retail sales at 09.30, followed by UK retail sales at 09.30.
• This afternoon, we have Canadian wholesale sales, followed by CPI and unemployment claims.
Trade Idea:
• The USD/JPY has shown no signs of retreating and until this trend shows signs of a serious correction, there’s no point fighting the flow.
A good way to play this is a HIGHER trade predicting that the USD/JPY will close higher than 119.25 in 5 days time. This could return 167% if successful.
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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