July 12th 2016: Markets Rally on Wave of Optimism

• This morning, world markets are on the rise after a wave of optimism sparked by the anointing of Theresa May as British Prime Minister and renewed faith in the US economy. The US dollar is on the back foot this morning as investors seek our riskier assets.

• The yen pairs are on the rise as investors shun safe-havens on optimism from Japanese elections.

• The pound itself continues to rise as markets cling to any form of certainty.

• The Australian and New Zealand dollar is also pushing higher on a similar theme.

• Coming up today, we have UK BOE governor Carney speaking at 10.00.
• This is followed by US FOMC member Bullard speaking at 14.35, followed by US JOLTS job openings at 15.00.

Trade Idea: 

• The Australian dollar continues to ride renewed waves of optimism on political unity in the UK and Australia.

• A good way to play this is a HIGHER trade predicting that the AUD/USD will close above 0.7650 in 14 days for a potential return of 162%.

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