Binary.com Daily Market Report (28th Sep)
September 28, 2015 10:12 amVideo
Latest News
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Euro Weighed Down By
VW Concerns
Morning Report: 06.45 London
• This morning, the Euro remains under pressure after a weekend of further revelations about the VW scandal with some commentators warning that the fallout could be more significant than Enron.
• The Euro is also is also on the back foot as US rate watchers re-adjust to the idea of a rate hike in 2015. After Yellen’s speech last week, it does indeed seem that a rate hike may be back on for December. Stock markets took a ‘glass half full’ view of this, putting in a positive session on Friday. US Dollar index:
• Elsewhere, the Australian Dollar has a negative bias, while the USD/JPY remains stuck in an ugly trading range.
Coming up today:
• First up today, we have a number of central bankers speaking at a conference in Paris from 08.00 to 13.30. There are further speeches in the US at 18.30 and 20.00. Analysts will be looking for the words within the words.
• Aside from this we have US personal spending data at 13.30, released alongside core PCE price index. Pending new homes follow at 15.00.
Trade Idea:
• The USD/JPY is stuck in an ugly trading range, but this is likely to resolve itself in the coming weeks as the US inches towards a rate hike. A downside breakout seems the most likely, but you can hedge your bets with an IN/OUT trade.
A good way to play this is an IN/ OUT trade predicting that the USD/ JPY will close outside of 122.50 and 118.00 in 14 days time for a potential return of 134%.
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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