• This morning, the Japanese yen is under pressure once again after Japanese core inflation dropped just weeks ahead of crucial elections for PM Shinzo Abe. The USD/JPY is up 0.18%, with many other yen pairs following suit.
• Elsewhere, gold and silver remain under pressure as commodities generally take a beating following oils plunge yesterday. OPEC opted to not cut production, a move that usually would support oil prices and often commodities as a whole.
• The S&P 500 is holding at the highs, while the dollar index has gapped higher.
Coming up today: • Coming up today we have French consumer spending at 07.45 • Following this, we have European CPI flash estimate at 10.00, with the unemployment rate at 10.00. • Canadian GDP follows at 13.30 .
Trade Idea:
• With the yen under pressure again, it could pay to step back aboard the USD/JPY train.
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.
Japanese yen pressured
as inflation dips
Morning Report: 7.15 London
• This morning, the Japanese yen is under pressure once again after Japanese core inflation dropped just weeks ahead of crucial elections for PM Shinzo Abe. The USD/JPY is up 0.18%, with many other yen pairs following suit.
• Elsewhere, gold and silver remain under pressure as commodities generally take a beating following oils plunge yesterday. OPEC opted to not cut production, a move that usually would support oil prices and often commodities as a whole.
• The S&P 500 is holding at the highs, while the dollar index has gapped higher.
Coming up today:
• Coming up today we have French consumer spending at 07.45
• Following this, we have European CPI flash estimate at 10.00, with the unemployment rate at 10.00.
• Canadian GDP follows at 13.30 .
Trade Idea:
• With the yen under pressure again, it could pay to step back aboard the USD/JPY train.
A good way to play this is a HIGHER trade predicting that the USD/JPY will close higher than 118.50 in 7 days time for a potential return of 132% if successful.
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.
Summary:
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