Asia Leads Despite Subdued US

Morning Report: 08:30 London

• Commodities and commodity related currencies are lead markets higher this morning despite a subdued wall street over night.                 
         

• Silver is the leading light, up 0.6%, with gold not far behind, up 0.39%.

                                                       
                             
                                                                                                  
• Commodity related currencies are picking up the same groove, with the USD/CAD down 0.24%, the NZD/USD up 0.24% and the Aussie dollar reaching fresh short term highs this morning.

                           

                           

• The euro continues to show relative weakness against the British pound as the ECB considers introducing a monetary easing policy.

                                                     
                                                      
Coming up today:
• Today’s G7 meeting will discuss the escalating crisis in Ukraine.
• Coming up today, we also have UK manufacturing PMI at 09.30, with net lending to individuals released at the same time.
• From 13.30 we have US core PCE price index and personal spending.
• From 14.00 we have a speech from ECB president Draghi.
• US ISM Manufacturing closes the day’s major announcements at 15.00.

Trade Idea:
• The AUD/JPY may have fallen back from the morning’s highs, but momentum is still strong for this primary risk-on pair.

                                     

With more upside potential from here, a HIGHER trade predicting that the AUD/JPY closes above 95.00 in 3 days time could return 158% if successful.

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

Summary: