Mood Turns As Japan Falters 

Morning Report: 08:30 London

• Last night, the S&P 500 closed at yet another record high, but this morning, the mood is turning after Japanese household spending fell at its fastest pace for three years. At the same time inflation grew, putting on hold the chance of imminent action from the Bank of Japan.

• The S&P 500 is off those record highs this morning as cautious trading sets in.   

• Markets are generally mixed this morning, with the dollar pairs making small gains.
                                                                                                                                         

• The yen pairs are seeing some downside pressure, especially the EUR/JPY which is off by 0.09% in a continuation of recent downside pressure. Today is also for the first time in a few days that the EUR/GBP is heading lowere.

                             
                  
                             

                             
                                                                                                                                                        
Coming up today:

• Coming up today we have Canadian GDP figures at 13.30, alongside US core PCE and personal spending.

• Chicago PMI follows at 14.45, with revised UoM consumer sentiment at 14.55.

Trade Idea:

• The return of euro under performance could be a trigger for further downside pressure, especially on the EUR/JPY which is stretching lower.

                             

A LOWER trade predicting that the EUR/JPY will close below 138.00 in 5 days time could return 133% if successful.

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

Summary: