It was a curious session on Wall Street yesterday with the bulls and the bears swapping positions until a final half hour flourish saw markets push upwards to a 10 month closing high.

So far this morning the FTSE, CAC and DAX have opened up flat with a slightly negative bias as traders wonder what to make of yesterday’s market action.

Yesterday Europe posted a surprising recovery in the second quarter and today we have more European announcements that could have an impact on the markets.

Eurozone CPI is expected to come in at -0.6% so traders will be looking for any major deviation from this.

Today’s main event is US Core CPI at 12.30 BST. Analysts are expecting a slight worsening in these figures month on month. Any improvement could be seized upon as more evidence that the US is starting to recover.

Yen Makes Progress Against Sterling and the Euro

Another reversal yesterday, this time with the risk takers losing out, the Pound and Euro closed down against the Yen.

This morning it was all quiet going into the London session, but it looks as though forex pairs are beginning to make their move for the day.

The Yen is making further progress against the Pound and Euro with Sterling looking the weakest currency of the day overall.

The GBP/JPY is down around 0.5% in early trading. ¥156.00 could be the next target with a Fixed Odds One Touch trade possibly the best way to trade this.

This website content does not constitute investment advice. No individual contributor, contributing company nor Online-Spread-Betting.com accept any responsibility for any use that may be made of the content.