• This morning, European stock markets are heading for their highest levels for five years as liquidity fears ease across Asia. The S&P 500 futures are currently just below right levels after a volatile session yesterday.
• The Australian dollar is the big mover, up 0.92% against the yen and 0.84% against the US dollar. Overnight CPI came in above estimates, potentially putting a floor on Australian rate cuts.
• Elsewhere, commodities continue to suffer, with silver off by 0.25% and gold by 0.11%.
• The yen pairs have a positive bias after the Bank of Japan elected to make no changes overnight.
Coming up today:
• Today we have the latest UK claimant count change data, unemployment rate and MPC statement at 09.30.
• At 15.00, we switch to Canada with the BOC monetary policy report and statement. The press conference follows at 16.15.
Trade Idea:
• The USD/JPY has been going nowhere fast for the last 7 days and this could continue until next week between last night’s BoJ meeting and next week’s FOMC meeting.
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.
Markets head for five year high
Morning Report: 08.30 London
• This morning, European stock markets are heading for their highest levels for five years as liquidity fears ease across Asia. The S&P 500 futures are currently just below right levels after a volatile session yesterday.
• The Australian dollar is the big mover, up 0.92% against the yen and 0.84% against the US dollar. Overnight CPI came in above estimates, potentially putting a floor on Australian rate cuts.
• The yen pairs have a positive bias after the Bank of Japan elected to make no changes overnight.
Coming up today:
• Today we have the latest UK claimant count change data, unemployment rate and MPC statement at 09.30.
• At 15.00, we switch to Canada with the BOC monetary policy report and statement. The press conference follows at 16.15.
Trade Idea:
• The USD/JPY has been going nowhere fast for the last 7 days and this could continue until next week between last night’s BoJ meeting and next week’s FOMC meeting.
A good way to play this could be an IN/OUT trade predicting that the USD/JPY closes between 104.75 and 103.50 in 7 days for a potential return of 117%.
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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