• While the dollar is making all the headlines right now, it’s the yen that has been the power currency so far this week as traders switch to a more defensive posture. The yen is up 0.49% against the US dollar and extending gains against other currencies this morning. The GBP/JPY appears particularly hard hit, down 0.50%.
• The euro may have hit a nine year low yesterday, but it’s been the pound that has been under performing over the last three sessions, especially against the euro.
• The dollar pairs are rising this morning, with the NZD/USD and AUD/USD leading the way. Australian trade balance data came in above expectations.
• Gold also looks set for its second gain in as many days.
• The S&P 500 continues to weaken in 2015 however.
Coming up today: • This morning we have a raft of US services data, with final European services PMI the highlight at 09.00.
• UK services PMI follows at 09.30, released alongside the BOE credit conditions survey.
• US ISM manufacturing follows at 15.00.
Trade Idea:
• Is the yen picking up the dollar’s mantle? It’s too early to tell, but the pound is worthy vehicle to test this new trend due to its inherent weakness.
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 Leading For
2nd Day Running
Morning Report: 8.00 London
• While the dollar is making all the headlines right now, it’s the yen that has been the power currency so far this week as traders switch to a more defensive posture. The yen is up 0.49% against the US dollar and extending gains against other currencies this morning. The GBP/JPY appears particularly hard hit, down 0.50%.
• The euro may have hit a nine year low yesterday, but it’s been the pound that has been under performing over the last three sessions, especially against the euro.
• The dollar pairs are rising this morning, with the NZD/USD and AUD/USD leading the way. Australian trade balance data came in above expectations.
• Gold also looks set for its second gain in as many days.
• The S&P 500 continues to weaken in 2015 however.
Coming up today:
• This morning we have a raft of US services data, with final European services PMI the highlight at 09.00.
• UK services PMI follows at 09.30, released alongside the BOE credit conditions survey.
• US ISM manufacturing follows at 15.00.
Trade Idea:
• Is the yen picking up the dollar’s mantle? It’s too early to tell, but the pound is worthy vehicle to test this new trend due to its inherent weakness.
A good way to play this is a LOWER trade predicting that the GBP/JPY will close below 181.00 in 10 days time for a potential return of 127%.
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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