Morning Report: 06.15 London
- This morning markets are mixed and buffeted by various cross winds ahead of the released of the minutes from the last Fed meetings. The euro is showing a modicum of strength after further selling yesterday. Stock markets may have staged a so called ‘patriot’ rally, but forex markets are still showing their amoral tendencies with the euro still yet to regain its losses from the weekend.
- The Australian dollar by contrast is showing some weakness as over head resistance looms.
- The US dollar is losing out to the yen, while the dollar index remains largely unchanged.
- Gold is still sitting at the bottom of its recent run as the brief safe haven rush is quickly overturned.
Coming up today:
- Coming up today we have FOMC member Dudley speaking at 13.00, followed by building permits at 13.30 and housing starts. Crude inventories follow at 15.30, with the main ticket being the release of the minutes from the last FOMC meeting.
Trade Idea:
- Today’s FOMC meeting minutes could provide another opportunity for the dollar index to break the highs on the USD/JPY. This morning’s pause may just be that, with further upside potentially on the horizon.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
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