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25/05-12   -   Press releases

Optimistic start for markets

If yesterday was more about stability, today we have some early indications of optimism seeping into financial markets. There has been no specific good news hitting the tapes, but more importantly, there has been no bad news either.

The euro is leading the gainers, with the euro pairs up around 0.2%. These are small movements in the grand scheme of things, but they represent a step in the right direction. Gold is also enjoying some buying interest, with the precious metal up 0.2%, helped by the US dollar index backing off from the highs.

There´s little to shout about on the economic news front today, with revised US UoM consumer sentiment at 14.55 probably the days highlight.

The dollar index is pulling back from the highs after pushing rapidly higher in the last month or so. Despite this strength though, the USD/JPY has managed to maintain its down trend, which is impressive considering the force of dollar interest.

With the USD/JPY testing overhead support once again, it could be a good time for a LOWER trade on on the pair predicting that the USD/JPY closes below 79.25 in 3 days time for a potential return of 215%.

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