BetOnMarkets Daily Market Report (10th May)

Read the Daily Market Report from Dave Evans, Professional Trader


	USDJPY pushes further past 100 Morning Report: 08.00 London • This morning, the Japanese yen has continued to weaken against the US dollar with the 2009 high of 101.43 now in range. Other yen pairs such as the EUR/JPY are following suit, rising 0.38% this morning. Overnight Japanese current account data came in worse than expected, with the economy watchers sentiment balance also disappointing. Click here to view full-sized image Click here to view full-sized image • The NZD/USD and AUD/USD continue to weaken following the release of the RBA monetary policy statement. Click here to view full-sized image Click here to view full-sized image Coming up today: • We have UK trade balance at 09.30 with a drop to -8.9bn expected. • From 13.30, we switch to Nor th America, with Canadian employment data followed by a speech by US Fed chairman Bernanke speaking at 14.30. • G7 meetings run in the background throughout the day. Bet Idea: The USD/JPY is overstretched by most long term technical measures, but this hasn’t stopped it any point in recent months. The previous high of 101.43 is highly likely to be breached in the next few days with an overshoot highly likely. Click here to view full-sized image • A ONE TOUCH trade predicting that the USD/JPY will touch 102.50 in 3 days time could return 227% if successful. Click here to view full-sized image This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. Summary: Click here to view full-sized image

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