Markets still optimistic despite far right gains 

Morning Report: 08:30 London

• Financial markets have generally made a positive start to the day as Asian equities remain around 2014 highs and European markets shrug off electoral gains for far right parties. The big ticket news item is that the ECB might just be willing to open the taps with monetary easing. As long as there  a ready source of easy money around.         

• So far this morning, commodities are the biggest movers, but so far this action is well within the confines of the horrible choppy range that we’ve seen in recent weeks.
                                                                                                                                           

• In line with the general positive tone, the AUD/JPY is rising steadily from its over sold status last week.

                                                        
                             

• The dollar pairs are showing some fight too, with the likes of the EUR/USD and GBP/USD putting in a couple of positive days.

                             
                                                                                                                                                        
Coming up today:

• Coming up today we have UK BBA mortgage approvals at 09.30.

• This is followed by US core durable goods orders at 13.30 and the latest Case-Shiller house price index at 14.00.

• We switch back to Europe at 14.30, with ECB president Draghi speaking.

• US consumer confidence rounds off the day at 15.00.

Trade Idea:

• The GBP/USD has held recent support levels and with a rate hike still in the offing, there could be further upside from here.

                             

A good way to play this is a HIGHER trade predicting that the GBP/USD closes above 1.3675 in 3 days time. 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: