Markets Slips On Asia Data

Morning Report: 08.45 London

• Markets have slipped again over night, with some follow on selling from Wednesday’s bear slump. Ongoing violence in Iraq and a perceived lack of urgency in Iraqi leaders is thought to be behind the move.
 

• The British pound turned on the proverbial sixpence yesterday as Mark Carney appeared to soften the probability of a rate hike before the end of the year. Some British MP’s stated that Carney was behaving like an ‘unreliable boyfriend’.


• Gold and silver are off the boil this morning, as traders book profits on the recent push higher.


                               
                             
Coming up today:

• Coming up today we have UK realised sales at 11.00.

• This is followed by US final GDP and Core durable goods at 13.30.

Trade Idea:

• The GBP/JPY has received some surprises to the upside and now downside as interest rate speculation lurches from one extreme to the other. Yesterday we saw a swing lower and it would be entirely unexpected if we see another turn higher before the end of the week.

                               

A good way to play this is a HIGHER trader predicting that the GBP/JPY will close ABOVE 173.00 on Friday. This could return 125% if successful.

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

Summary: