Markets Positive As Traders Pause For Breath

Morning Report: 09.00 London

• Financial markets have a positive bias this morning, with the S&P 500 carrying over some of Friday’s momentum. The dollar index is neutral this morning.
                                                                    

                               

                               
                                                                                                                                                                   
• The yen pairs are on the offensive this morning, largely as a result of safe haven demand diminishing. The main yen pairs are on the rise, with the AUD/JPY gapping higher at the open. The other main dollar pairs have followed suit.

                               

                               

• The NZD/USD is the best performing dollar pair so far, with the AUD/USD not far behind.

                               

                               
                        
Coming up today:

• Coming up today we have the German Buba monthly report at 11.00.

• This is followed by Canadian wholesale sales at 13.30 and FOMC member Powell speaking at 15.00.

Trade Idea:

• The USD/JPY’s gap higher could hint at a significant trend change, or a reversal pop that has exhausted itself. Given the current levels of volatility, its hard to believe last week’s gyrations have finished. As such, a LOWER trade could be best here, betting that the gap will be filled and the USD/JPY continue lower.

                               

A LOWER trade predicting that the USD/JPY closes below 107.75 in 4 days time could return 153% if successful.

This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. 

Summary: