• This morning, the Japanese yen is coming under pressure after the early morning Bank of Japan meeting and following press conference. The BOJ maintained their two year asset purchase program, helping the USD/JPY hit its highest level since July. The USD/JPY is up 0.69%, with the other major yen pairs up by the same degree. The US dollar is pushing higher at the same time, but its clear that today’s move is about yen weakness, not dollar strength.
• One yen pair falling behind is the AUD/JPY as the Australian dollar weakens due to below par Chinese Flash manufacturing PMI. The AUD/ USD is off by 0.27%.
Coming up today:
• From 08.00, we have a series of European economic items starting with French flash manufacturing & services PMI, following by German data at 08.30 and European data at 09.00.
• RBA Governor Stevens speaks at 09.05.
• At 09.30 we get the latest UK public sector net borrowing figures, with CBI industrial orders expectations following at 11.00.
• From 13.30 we switch to the the US with PPI & unemployment claims. From 15.00 we have Philly Fed Manufacturing Index.
Trade Idea:
• The Australian dollar has been under pressure in recent weeks, but support levels approach to the downside. The AUD/USD rebounded from these levels a few times in the past, but momentum seems strong here.
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 slips on Bank of Japan meet
Morning Report: 08.45 London
• This morning, the Japanese yen is coming under pressure after the early morning Bank of Japan meeting and following press conference. The BOJ maintained their two year asset purchase program, helping the USD/JPY hit its highest level since July. The USD/JPY is up 0.69%, with the other major yen pairs up by the same degree. The US dollar is pushing higher at the same time, but its clear that today’s move is about yen weakness, not dollar strength.
• One yen pair falling behind is the AUD/JPY as the Australian dollar weakens due to below par Chinese Flash manufacturing PMI. The AUD/ USD is off by 0.27%.
Coming up today:
• From 08.00, we have a series of European economic items starting with French flash manufacturing & services PMI, following by German data at 08.30 and European data at 09.00.
• RBA Governor Stevens speaks at 09.05.
• At 09.30 we get the latest UK public sector net borrowing figures, with CBI industrial orders expectations following at 11.00.
• From 13.30 we switch to the the US with PPI & unemployment claims. From 15.00 we have Philly Fed Manufacturing Index.
Trade Idea:
• The Australian dollar has been under pressure in recent weeks, but support levels approach to the downside. The AUD/USD rebounded from these levels a few times in the past, but momentum seems strong here.
• A LOWER trade predicting that the AUD/ USD will close below 0.9200 in 7 days time could return 285%.
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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