Dollar Pause Helps Lift Commodities

Morning Report: 09.00 London

• This morning, the S&P 500 is still holding at record highs, but the dollar index is at last pausing for breath.                                                                                                             

                               
                                                                                                                                                                   
                               

• This pause is helping dollar pairs and commodities to rise after a period of sustained pressure.

                               
       
                               

• The main commodity pair, the Australian dollar is also rising as is the NZD/USD.

                               

                                    

                                   

• The yen pairs are pulling back slightly, especially the EUR/JPY which is hitting overhead resistance.

                                                 
                                           
Coming up today:

• Coming up today, we have a Canadian focus with Core CPI and Core retail sales at 13.30.

• Fed Chair Yellen speaks at 15.00, followed by ECB president Draghi speaking at 19.30.


Trade Idea:

• The AUD/JPY has matched the stock markets rise in recent weeks with some impressive momentum. There could be more upside from here though and a HIGHER trade could be attractive.

A good way to play this is a HIGHER trade predicting that the AUD/JPY will close above 97.00 in 5 days time for a potential return of 157%.

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