• Whether connected or not, there was a notable slump in the yen this morning after China pushed money into its banks ahead of the Chinese new year.
• The USD/JPY is up 0.5%, the EUR/JPY & GBP/JPY up around 0.39%. The AUD/JPY is also continuing its remarkable rebound, with another 0.29% gain this morning.
• Commodities are under pressure, with Silver off by around 1% and gold off by 0.37%.
• The dollar pairs are generally quiet, with the AUD/USD the notable mover, down 0.21%.
Coming up today:
• Coming up today, we have German ZEW Economic Sentiment at 10.00, with pan European data released at the same time.
• At 11.00, we get CBI Industrial Order Expectations.
• At 13.30 we switch to Canada with Manufacturing sales.
Trade Idea:
• The pound has some heavy data due tomorrow, but today looks set to be another tight range day. Historically this has provided a downside bias and this could prove to be the case here once again.
This Daily Market Report is written by Dave Evans, Professional Trader. This is presented as an idea to stimulate binary option trading ideas and is not a financial advice.
Yen slumps after China liquidity injection
Morning Report: 08.15 London
• Whether connected or not, there was a notable slump in the yen this morning after China pushed money into its banks ahead of the Chinese new year.
• The USD/JPY is up 0.5%, the EUR/JPY & GBP/JPY up around 0.39%. The AUD/JPY is also continuing its remarkable rebound, with another 0.29% gain this morning.
• The dollar pairs are generally quiet, with the AUD/USD the notable mover, down 0.21%.
Coming up today:
• Coming up today, we have German ZEW Economic Sentiment at 10.00, with pan European data released at the same time.
• At 11.00, we get CBI Industrial Order Expectations.
• At 13.30 we switch to Canada with Manufacturing sales.
Trade Idea:
• The pound has some heavy data due tomorrow, but today looks set to be another tight range day. Historically this has provided a downside bias and this could prove to be the case here once again.
A LOWER trade predicting that the GBP/USD closes below 1.6400 in 1 days time could return 120%.
This Daily Market Report is written by Dave Evans, Professional Trader. This is presented as an idea to stimulate binary option trading ideas and is not a financial advice.
Summary:
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