Markets Stretch Back Towards Highs 

Morning Report: 08:30 London

• This morning, world markets are eyeing all time highs, as Asia-Pacific stock markets eye 2014 highs and the S&P 500 its all time highs.         

• Generally, markets are waiting for a catalyst with relatively small movements so far today. The AUD/USD is the morning’s biggest mover, up 0.15% as it attempts another recovery from the recent sell off.
                                                                                                                                           

• The pound is showing some notable weakness, reversing much of yesterday’s gains as the rate hike on/off switched momentum.

                                                        
                             

• The EUR/JPY is moving lock step with the pound however after days of under performance.

                             
                                                                                                                                                        
Coming up today:

• Coming up today we have German Ifo Business Climate at 09.00, a small dip expected.

• Following this we have Canadian Core CPI at 13.30, followed by new home sales at 15.00.

Trade Idea:

• Most FX pairs have been stuck in ugly trading ranges of late and the USD/JPY is no exception.

                             

The pair has found support in the 101.00 region, but has made little progress beyond this. The lack of upside momentum could be telling, making a downside bet attractive here.

A LOWER trade predicting that the USD/JPY will close below 101.00 in 21 days time could return 215%.

This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. 

Summary: