• This morning, the Japanese yen has rebounded amid speculation that the currency has fallen too far too quickly. The GBP/JPY is once again under performing other pairs, falling 0.58%. The USD/JPY is down 0.56%, with the EUR/JPY off by 0.49%.
• Elsewhere, precious metals are on the rise, with gold up 0.33%.
• Elsewhere, the S&P 500 is nudging towards the highs again, while the dollar index still holds firm.
Coming up today: • Coming up today we have UK public sector net borrowing at 09.00.
• This is followed by German Bupa president Weidmann speaking at 10.15.
• Canadian core CPI follows at 13.30. Trade Idea:
• The EUR/JPY is peeling back this morning, but until the dollar index shows a significant trend change, this could be more of a ‘buy the dip’ opportunity than a chance to sell.
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 Rebounds Ahead of Elections
Morning Report: 08.30 London
• This morning, the Japanese yen has rebounded amid speculation that the currency has fallen too far too quickly. The GBP/JPY is once again under performing other pairs, falling 0.58%. The USD/JPY is down 0.56%, with the EUR/JPY off by 0.49%.
• Elsewhere, precious metals are on the rise, with gold up 0.33%.
• Elsewhere, the S&P 500 is nudging towards the highs again, while the dollar index still holds firm.
Coming up today:
• Coming up today we have UK public sector net borrowing at 09.00.
• This is followed by German Bupa president Weidmann speaking at 10.15.
• Canadian core CPI follows at 13.30.
Trade Idea:
• The EUR/JPY is peeling back this morning, but until the dollar index shows a significant trend change, this could be more of a ‘buy the dip’ opportunity than a chance to sell.
A good way to play this is a HIGHER trade predicting that the EUR/JPY will close above 148.00 in 5 days time for a potential return of 130%.
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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