• This morning, general risk appetite appears to be waning as the Japanese yen returns to strength. The main yen pairs are slipping back significantly after this morning’s speech from BOJ governor Kuroda.
• The Australian dollar is showing particular weakness, with the AUD/JPY one of the biggest losers. The excitement surrounding China’s rate cut appears to be waning. The AUD/USD and NZD/USD are slipping lower on the same movement.
• The S&P 500 is holding at the highs, while the dollar index is nudging higher.
Coming up today: • Coming up today we have UK BBA mortgage approvals at 09.30, followed by the inflation report hearings at 10.00.
• At 13.30 we switch to North America, with Canadian retail sales and US prelim GDP released at the same time.
• US consumer confidence follows at 15.00. Trade Idea:
• The yen pairs are pulling back today, but this could be a buying opportunity, especially on the GBP/JPY which has displayed relative strength recently.
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. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
Risk Appetite Wanes
Morning Report: 08.30 London
• This morning, general risk appetite appears to be waning as the Japanese yen returns to strength. The main yen pairs are slipping back significantly after this morning’s speech from BOJ governor Kuroda.
• The Australian dollar is showing particular weakness, with the AUD/JPY one of the biggest losers. The excitement surrounding China’s rate cut appears to be waning. The AUD/USD and NZD/USD are slipping lower on the same movement.
• The S&P 500 is holding at the highs, while the dollar index is nudging higher.
Coming up today:
• Coming up today we have UK BBA mortgage approvals at 09.30, followed by the inflation report hearings at 10.00.
• At 13.30 we switch to North America, with Canadian retail sales and US prelim GDP released at the same time.
• US consumer confidence follows at 15.00.
Trade Idea:
• The yen pairs are pulling back today, but this could be a buying opportunity, especially on the GBP/JPY which has displayed relative strength recently.
A good way to play this is a HIGHER trade predicting that the GBP/JPY will close above 185.25 in 7 days time for a potential return of 109%.
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. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
Summary:
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