• Markets are taking are pausing for breath this morning, with the dollar index still holding the highs and the S&P 500 poised to break to even higher levels.
• The dollar index is still dominating proceedings, a theme that is keeping the AUD/USD lower despite better than expected retail sales and trade balance data this morning.
• The British pound is peeling back slightly after rallying on the back of yesterday’s Autumn statement. The EUR/GBP in particular is higher, though has some way to go to erase yesterday’s losses.
• The yen pairs are holding around the highs as Japan PM Abe’s policies come under further scrutiny.
Coming up today: • Coming up today we have the UK bank rate with the asset purchase facility decisions. No change is expected here.
• The big market focus surrounds the ECB’s rate decision at 12.45 and press conference at 13.30.
• US unemployment claims are also released at 13.30, with Canadian Ivey PMI following at 15.00. Trade Idea:
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.
Market Pause
Morning Report: 9.00 London
• Markets are taking are pausing for breath this morning, with the dollar index still holding the highs and the S&P 500 poised to break to even higher levels.
• The dollar index is still dominating proceedings, a theme that is keeping the AUD/USD lower despite better than expected retail sales and trade balance data this morning.
• The British pound is peeling back slightly after rallying on the back of yesterday’s Autumn statement. The EUR/GBP in particular is higher, though has some way to go to erase yesterday’s losses.
• The yen pairs are holding around the highs as Japan PM Abe’s policies come under further scrutiny.
Coming up today:
• Coming up today we have the UK bank rate with the asset purchase facility decisions. No change is expected here.
• The big market focus surrounds the ECB’s rate decision at 12.45 and press conference at 13.30.
• US unemployment claims are also released at 13.30, with Canadian Ivey PMI following at 15.00.
Trade Idea:
• The Autumn statement was well received yesterday, boosting the GBP/JPY further. While the pound’s future trajectory may still be uncertain, the yen pairs still seem to be treading a steady path higher, which underlines the prospect of more upside.
A good way to play this is a HIGHER trade predicting that the GBP/JPY closes above 188.50 in 7 days for a potential return of 112% 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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