The Japanese yen remains the power broker across currency markets, as the USD/JPY attempts to reverse yesterday’s gains.
The AUD/JPY is seeing the biggest losses, with the pair reversing heavily from the 83.50 level 82.00 in just three days. The EUR/JPY has reversed yesterday’s recovery and is challenging the 130.00 level. Meanwhile, the GBP/JPY is below the 146.00 level and sinking.
The AUD/USD is continuing Monday’s opening reversal. The EUR/USD is following a similar trend, with the GBP/USD mirroring these moves.
The EUR/CHF continues to weaken, as does the EUR/GBP which is slipping further from the 0.8950 level.
Gold sentiment continues to sour, driving the precious metal to its lowest closing levels of the year,
Coming up today
This morning we have a range of European flash manufacturing and services PMI data, starting with French data at 08.00. German data is at 08.30, with European data at 09.00.
Trade Idea
The euro continues to weaken against Swiss franc, with the May lows a likely target.
Morning Report: 07.00 London
The Japanese yen remains the power broker across currency markets, as the USD/JPY attempts to reverse yesterday’s gains.
The AUD/JPY is seeing the biggest losses, with the pair reversing heavily from the 83.50 level 82.00 in just three days. The EUR/JPY has reversed yesterday’s recovery and is challenging the 130.00 level. Meanwhile, the GBP/JPY is below the 146.00 level and sinking.
The AUD/USD is continuing Monday’s opening reversal. The EUR/USD is following a similar trend, with the GBP/USD mirroring these moves.
The EUR/CHF continues to weaken, as does the EUR/GBP which is slipping further from the 0.8950 level.
Gold sentiment continues to sour, driving the precious metal to its lowest closing levels of the year,
Coming up today
This morning we have a range of European flash manufacturing and services PMI data, starting with French data at 08.00. German data is at 08.30, with European data at 09.00.
Trade Idea
The euro continues to weaken against Swiss franc, with the May lows a likely target.
A good way to play this is a LOWER trade predicting that the EUR/CHF will close below 1.1600 in 14 days for a potential return of 105%.
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