2014 Starts With Silver Lining

Morning Report: 07.15 London

• Despite a dip in Asian markets and disappointing Chinese manufacturing figures, markets have started 2014 on a high. European indices and US stock market futures are on the rise after a number of days of stagnation.
 

• The dollar index is rising slightly, but commodities are still showing sizeable gains. Silver is the big winner, up nearly 3% with gold up by around 1.5%.
 

 • The euro is struggling however, despite Spanish manufacturing coming above estimates.

Coming up today:

• Coming up today we have UK manufacturing PMI at 09.30.

• US unemployment claims follow at 13.30, with final manufacturing PMI at 14.00. ISM manufacturing PMI follows at 15.00.

Trade Idea:

• The EUR/JPY is cutting back, just as stock markets reach for the highs again. With these two markets highly correlated, some sort of mean reversion can be expected.

A continuation of the today’s EUR/ JPY down move could be the better bet. A LOWER trade predicting that the EUR/ JPY closes below 144.25 tomorrow for a potential return of 158%.

This Daily Market Report is written by Dave Evans, Professional Trader. This is presented as an idea to stimulate binary option trading ideas and is not a financial advice.

Summary: