Yen Slips as Risk Appetite Returns

Morning Report: 06.30 London

• This morning, the Japanese yen is on the back foot, helping to lift all yen pairs. Risk appetite appears to have returned this morning, after general selling this morning.

• The British pound is the big winner, with the GBP/JPY up by 1.00% and the EUR/GBP steadily dropping lower.

• The Australian dollar is also climbing after a brief pull back yesterday.

Coming up today:

• This morning, we have a raft of European flash manufacturing and services PMI data points, starting with French data at 08.00, followed by German at 08.30 then European wide at 09.00.

• At 13.30 we get core Canadian CPI released alongside core retail sales.

Trade Idea:

• Commodities have generally performed well over the last few week, with precious metals joining the party.

• One shining example has been silver with huge gains recently. This recovery is still in its infancy and as such could have further to run.

                     


A good way to play this is a HIGHER trade predicting that silver closes above $18.0000 in 14 days for a potential return of 292%.

                          
                                                         

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