Morning Report: 07.00 London
- This morning, the yen pairs are staging a second day of reversals after Friday’s surge. The AUD/JPY is one of the biggest losers so far with half of Friday’s gains now undone. By contrast, the USD/JPY is holding its ground, with the EUR/JPY showing only moderate reversals.
- The GBP/JPY is showing the greatest relative strength though with small losses since Monday.
- Meanwhile, the US dollar remains unchanged.
Coming up today:
- Coming up today we have US core durable goods orders at 13.30.
- Following this, we have Canadian BOC governor Poloz speaking.
- We then have US CB consumer confidence at 15.00.
Trade Idea:
- Yesterday’s German Ifo business came in below expectations, adding to the general EUR/GBP poor performance that we’ve seen of late.
- There could be a further downside from here too.
- A good way to play this is a LOWER trade predicting that the EUR/GBP will close below 0.77000 in 21 days for a potential return of 186%.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
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