• This morning, markets are generally quiet, with the USD/JPY displaying some whippy behaviour around the latest BoJ statement. The outlook is generally positive, though there were enough negative caveats to keep the USD/JPY in check.
• The US Dollar index slipped from the highs yesterday after US GDP came in at in line with lowered expectations.
• The Dollar pairs are therefore slightly positive, with the NZD/USD and AUD/USD putting in positive sessions so far today.
Coming up today:
• Coming up today we have Spanish Flash GDP at 08.00.
• This is followed by European CPI flash estimate and unemployment rate from 10.00.
• From 12.30 we switch to North America for Canadian GDP and US employment cost index. Personal spending follows at the same time with Chicago PMI at 13.45.
Trade Idea:
• The EUR/GBP remains stuck at the lows after the US Dollar survived a difficult week with the FOMC meeting and GDP numbers that could have thrown the Greenback off course. The Euro will always struggle when there is a strong Dollar and right now, tensions are high surrounding Angela Merkel’s future. The last thing Europe needs right now is the removal of one of its strongest leaders while growth remains circumspect. The British economy is no bed of roses, but is still on a different interest rate trajectory to the Euro.
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.
Yen Volatility On BoJ
Morning Report: 06.30 London
• This morning, markets are generally quiet, with the USD/JPY displaying some whippy behaviour around the latest BoJ statement. The outlook is generally positive, though there were enough negative caveats to keep the USD/JPY in check.
• The US Dollar index slipped from the highs yesterday after US GDP came in at in line with lowered expectations.
• The Dollar pairs are therefore slightly positive, with the NZD/USD and AUD/USD putting in positive sessions so far today.
Coming up today:
• Coming up today we have Spanish Flash GDP at 08.00.
• This is followed by European CPI flash estimate and unemployment rate from 10.00.
• From 12.30 we switch to North America for Canadian GDP and US employment cost index. Personal spending follows at the same time with Chicago PMI at 13.45.
Trade Idea:
• The EUR/GBP remains stuck at the lows after the US Dollar survived a difficult week with the FOMC meeting and GDP numbers that could have thrown the Greenback off course. The Euro will always struggle when there is a strong Dollar and right now, tensions are high surrounding Angela Merkel’s future. The last thing Europe needs right now is the removal of one of its strongest leaders while growth remains circumspect. The British economy is no bed of roses, but is still on a different interest rate trajectory to the Euro.
A good way to play this situation is a LOWER trade predicting that the EUR/GBP will close below 0.7100 in 20 days time for a potential return of 210%.
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.
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