Volume Dries UP Ahead Of ECB 

Morning Report: 08:30 London

• Markets are keeping a reserve today ahead of the big ECB meeting and the FOMC meeting tomorrow. Consensus forecasts are for the ECB to cut rates to 0.10%, with potential for other measures. So far the euro is largely unchanged.   

                             
                                                                                                                                      

• Financial markets are still clinging on to those highs, just as the US dollar is keeping its up trend on track.

• The NZD/USD is sticking its head out, but generally the dollar pairs are unchanged.

                             

• The yen pairs are seeing the biggest movement as the yen regains ground.
                  
                             

                             
                                                                                                                                                        
Coming up today:

• Before the ECB rate statement, we have the corresponding announcement from the MPC, though no change is expected here.

• The ECB statement is due at 12.45, with the press conference at 13.30. Expect volatility around these times.

• At 13.30, we also get US unemployment claims and Canadian building permits.

Trade Idea:

• The USD/JPY has rejected overheard resistance levels but the strength of the US dollar trend is still intact. This could push the USD/JPY though these levels and make an upside trade look attractive.

                             

A HIGHER trade predicting that the USD/JPY will close above 102.75 at Friday’s close for a potential return of 135%.

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

Summary: