• This morning sees the start of the two day October FOMC meeting. No change is expected this month as December is seen as the big game changer. Still, markets are finely poised right now so any deviation from the expected script of a hike next month could see an exaggerated reaction. The dollar is down slightly as markets ready for the announcement tomorrow.
• The Yen is the big mover with the USD/JPY backing off in line with other yen pairs. The EUR/JPY’s continued decline is notable.
Coming up today:
• Coming up today we have UK preliminary GDP Q/Q, with a drop to 0.6% expected.
• Following this we have US core durable goods at 12.30. This is followed by US CB consumer confidence at 14.00.
Trade Idea:
• The USD/JPY’s spike higher could prove short lived as the pair retreats back into the trading range seen since the beginning of September.
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.
The Pre-Fed Quiet
Morning Report: 06.30 London
• This morning sees the start of the two day October FOMC meeting. No change is expected this month as December is seen as the big game changer. Still, markets are finely poised right now so any deviation from the expected script of a hike next month could see an exaggerated reaction. The dollar is down slightly as markets ready for the announcement tomorrow.
• The Yen is the big mover with the USD/JPY backing off in line with other yen pairs. The EUR/JPY’s continued decline is notable.
Coming up today:
• Coming up today we have UK preliminary GDP Q/Q, with a drop to 0.6% expected.
• Following this we have US core durable goods at 12.30. This is followed by US CB consumer confidence at 14.00.
Trade Idea:
• The USD/JPY’s spike higher could prove short lived as the pair retreats back into the trading range seen since the beginning of September.
A good way to play this is a LOWER trade predicting that the USD/JPY will close below 120.00 in 14 days for a potential return of 131%.
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.
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