• This morning, markets are mixed with the S&P 500 broadly unchanged and the dollar index backing off slightly. This week also marks the final tranche of the Fed’s asset purchase program.
• The euro has shrugged off the weekend’s bank stress test results and is actually out performing. The test results were telegraphed to markets well in advance so there were no nasty surprises with the actual announcement
• The main dollar pairs are performing well, especially the EUR/USD, though the NZD/USD is enjoying some early interest.
• The yen pairs are on the back foot as money flows from the dollar into the yen, though the GBP/JPY is notable for its under performance.
Coming up today: • Coming up today we have German Ifo business climate at 09.00, released alongside European private loan data.
• This is followed by CBI realised sales at 11.00, with MPC member Shafik speaking at 18.30.
• US pending home sales are released at 14.00. Trade Idea:
• Markets seem to be in an awkward inbetween phase at the moment, with the ultimate direction of trend unclear. The USD/JPY is backing off after short term rally and there does appear to be some downside potential here. One thing is clear in this regard, if the USD/JPY down trend does kick back into life, it could move very quickly, which makes a ONE TOUCH trade attractive here.
Markets Shrug Off Euro Stress Test
Morning Report: 09.00 London
• This morning, markets are mixed with the S&P 500 broadly unchanged and the dollar index backing off slightly. This week also marks the final tranche of the Fed’s asset purchase program.
• The euro has shrugged off the weekend’s bank stress test results and is actually out performing. The test results were telegraphed to markets well in advance so there were no nasty surprises with the actual announcement
• The main dollar pairs are performing well, especially the EUR/USD, though the NZD/USD is enjoying some early interest.
• The yen pairs are on the back foot as money flows from the dollar into the yen, though the GBP/JPY is notable for its under performance.
Coming up today:
• Coming up today we have German Ifo business climate at 09.00, released alongside European private loan data.
• This is followed by CBI realised sales at 11.00, with MPC member Shafik speaking at 18.30.
• US pending home sales are released at 14.00.
Trade Idea:
• Markets seem to be in an awkward inbetween phase at the moment, with the ultimate direction of trend unclear. The USD/JPY is backing off after short term rally and there does appear to be some downside potential here. One thing is clear in this regard, if the USD/JPY down trend does kick back into life, it could move very quickly, which makes a ONE TOUCH trade attractive here.
A ONE TOUCH trade predicting that the USD/JPY will drop and TOUCH 106.50 within the next 4 days could return 162% if successful.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
Summary:
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