• This morning, the S&P 500 is recovering some of the losses from the last three trading days on positive trading in China. Meanwhile, the US dollar index is still challenging the highs, setting the tone for currency movements again.
• Commodities are having a rare good day, with silver managing to put two up days in a row together (so far).
• A stronger yen is dominating currency movements, with the main yen pairs falling again.
• The Australian dollar is the main exception with the AUD/JPY bucking the trend and the AUD/USD topping the currency charts.
• Coming up today we have German Ifo business climate at 09.00.
• This is followed by US new home sales at 15.00 and crude oil inventories at 15.30. FOMC member Mester speaks at 17.05.
Trade Idea:
• It’s hard to call whether the recent USD/JPY down move is a turning point for the bears, or a time to re-load on long side trades. The dollar index uptrend is long in the tooth, but so far has shown no signs of reversing and as such, the USD/JPY pull back could offer good potential for bullish trades.
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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains. Summary:
Commodities Gain Ground
Morning Report: 09.00 London
• This morning, the S&P 500 is recovering some of the losses from the last three trading days on positive trading in China. Meanwhile, the US dollar index is still challenging the highs, setting the tone for currency movements again.
• Commodities are having a rare good day, with silver managing to put two up days in a row together (so far).
• A stronger yen is dominating currency movements, with the main yen pairs falling again.
• The Australian dollar is the main exception with the AUD/JPY bucking the trend and the AUD/USD topping the currency charts.
Coming up today:
• Coming up today we have German Ifo business climate at 09.00.
• This is followed by US new home sales at 15.00 and crude oil inventories at 15.30. FOMC member Mester speaks at 17.05.
Trade Idea:
• It’s hard to call whether the recent USD/JPY down move is a turning point for the bears, or a time to re-load on long side trades. The dollar index uptrend is long in the tooth, but so far has shown no signs of reversing and as such, the USD/JPY pull back could offer good potential for bullish trades.
A good way to play this is a HIGHER trade predicting that the USD/JPY will close above 109.00 in 5 days time for a potential return of 133%.
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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Summary:
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