With gold (where you can read my daily technical & fundamental analysis) stealing all the headlines as it surges ever higher reaching $1226 in early trading on the currency markets the BOJ’s bid to weaken the Yen appears to be working.  The Yen has been on the back foot these past few days and looks likely to continue today.  The Japanese currency is down 0.6% against the USD, 0.9% against sterling and almost 1% against the Aussie dollar.  Despite the dollar being weaker vs the euro & British Pound today’s action is definitely in the yen pairs.

Pairs to Watch:

Betting vs the Yen :  USDJPY, EURJPY, AUDJPY & GBPJPY
Betting  vs the USD : AUDUSD, GBPUSD & EURUSD

Binary Bet Tip:

With a number of major items of fundamental news out today including interest rate decision in Europe & ECB statement plus US unemployment claims, non manufacturing ISM & testimony from Ben Bernanke the focus will be on EURUSD (eurodollar technical & fundamental analysis)  which last week hit a 52 week high of 1.5145.  Could today give the pair the push it needs to go higher?

Potential Market Movers:

Aside from those already mentioned we also have UK services PMI and European Retail Sales.  As with yesterday’s ADP which came in worse than expected this afternoon’s unemployment claims which are forecast at -149k could come in worse than expected so expect a reaction in both the EURUSD & DOW.

Good luck & good trading.

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