BetOnMarkets Daily Market Report (10th June)

Yen Slips On Strong Japan Data

Morning Report: 08.30 London

• There are two main movements to note this morning; the sudden yen weakness and the opening gap lower in the dollar pairs. The yen pairs are seeing the biggest movements this morning after Japanese economic data including GDP came in above estimates. The news will strengthen the hand of Prime Minister Shinzo Abe, with his ‘Abeanonomic’ economic reforms.

• The USD/JPY is up 0.86%, with the EUR/JPY&nbsp
;up 0.66%.

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• The dollar pairs gapped lower at the open, but have generally been rising throughout the morning. This is in part a reaction to money flowing out of the yen and back into the dollar in early trading and partly a general risk off move after Chinese trade exports for May came in below estimates.

• With its close links to China, the AUD/USD is the biggest mover and is currently down 0.84% in early trading.



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• By contrast, the GBP/USD is down 0.35%, with the EUR/USD off by 0.21%.

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Coming up today:

• We have a light economic calendar today, with European Sentix investors confidence the morning’s main items.

• FOMC member Bullard speaks at 14.50.

Bet Idea:

• This morning’s opening gap on the USD/JPY co
mes on the back of large reversal on Friday.

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• However, it is worth noting that the last time the USD/JPY gapped open at the start of the week, the hole was filled within six days. 

• A good way to play this could be a LOWER trade predicting that the USD/JPY closes below 96.75 in 8 days time for a potential return of 125%.

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This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.

Summary: 

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