Asia worries keep bulls under pressure


Morning Report: 08.45 London

• This morning, poor data from Japan and more selling for China’s currency have set a negative tone for the morning session. In addition, markets still have a ‘risk-off’ tone as the situation in Ukraine develops.
• Stock markets are managing to cling to the highs, while the dollar index falls for the second day in a row.
 

• The risk off trading is causing money to flow into the Japanese yen as traders hunt out perceived safe havens. The AUD/JPY is off 0.53%, with other yen pairs down by a similar margin.

                           
                     
• By contrast, the dollar pairs have a slight positive bias with the NZD/USD the stand out performer, up 0.55%.

• The British pound is also performing well, up 0.29%

Coming up today:
• Today we have European flash estimates at 10.00, along with the unemployment rate.
• From 13.30 we switch to the US and Canada for GDP data.
• At 14.45 we get Chicago PMI, released alongside the revised UoM Consumer sentiment. At 15.00, we have Pending home sales.
• BOE governor Carney rounds off the week with a speech at 15.50.

Trade Idea:
• The EUR/GBP is heading for down week, but this will continue the pattern of binary up/down trading seen by the pair in recent weeks.

                             

Therefore a HIGHER trade could be the best option here. A HIGHER trade predicting that the EUR/GBP closes above 0.8225 in 7 days time could return 146%.

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

Summary: