Morning Report: 06.30 London
- This morning, markets are continuing their pre-Fed quiet after last night’s FOMC speeches passed without much impact. The dollar remains steady, holding ground after consistent losses over the last few months. The balance between holding on rates and pushing through with a rate hike appears to be finely poised.
- The USD/ JPY shows this impasse with the pair climbing consistently since last week’s lows, but this only brings the pair back into the middle of the six week trading range.
- Yen pairs are generally weaker this morning after poor trade balance data. The AUD/ JPY is putting on a three day streak as a result.
- Meanwhile the USD/ CAD reversed some of the election gains but markets remain wary of the new government.
Coming up today:
- Coming up today we have the Canadian rate rate at 15.00, with no change expected. The press conference follows at 16.15.
- From here we have UK BOE governor Carney speaking at 18.00.
Trade Idea:
- The GBP/ JPY is showing some remarkable consistency as the yen backs off and upside bets could be justified.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
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