Jan 18th, 2016: Iran Back In From The Cold

• This morning, markets are relatively stable after a tumultuous weekend which saw volatility in Middle East markets and oil prices plunging further below $28. The big news has been the lifting of sanctions on Iran and the resulting impact this had on oil prices. Beyond this, markets appear to be waiting for further momentum.

• The dollar is seeing a minor reversal after a strong performance on Friday. On a similar theme, the USD/JPY is rising slightly as Friday’s big moves are unwound.

• The Australasian pairs are also reversing after Friday’s heavy selling.

• The euro is lagging however, with the EUR/USD lagging other dollar pairs.

Coming up today: 

• We have a quiet day ahead today with a US bank holiday for Martin Luther King day.

Trade Idea: 

• The euro is showing some subtle signs of under-performance as the ECB still sees a rate hike as a long way off.

• A good way to play this is a LOWER trade predicting that the EUR/USD will close below 1.0800 in 14 days for a potential return of 171%.

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