Read the Daily Market Report from Dave Evans, Professional Trader
Gold slips back again
Morning Report: 08.00 London
• This morning has seen some tepid trading so far, with limited news flow over the weekend. Gold is the main mover, with the precious metal extending recent losses to fall 0.89% this morning. There appears to be no specific activity behind the move, other than the fact that traders are giving gold short shrift at the moment and punishing any signs of weakness.
• Elsewhere the yen is stronger this morning after reports that the Japanese economy may already be benefiting from the weak yen. The AUD/JPY is struggling in particular, with the pair having gone no-where since mid April.
• Coming up today we have the ongoing Eurogroup meeting, with Slovenia a possible point of discussion.
• From 13.30, we have US retail sales, followed by business inventories at 15.00.
Bet Idea:
span>The AUD/JPY’s rally off the September lows has been rather impress ive, but nothing can go up in a straight line forever. With markets entering their weakest period, the current period could see further yen downside.
Gold slips back again
Morning Report: 08.00 London
• This morning has seen some tepid trading so far, with limited news flow over the weekend. Gold is the main mover, with the precious metal extending recent losses to fall 0.89% this morning. There appears to be no specific activity behind the move, other than the fact that traders are giving gold short shrift at the moment and punishing any signs of weakness.
Click here to view full-sized image
• Elsewhere the yen is stronger this morning after reports that the Japanese economy may already be benefiting from the weak yen. The AUD/JPY is struggling in particular, with the pair having gone no-where since mid April.
Click here to view full-sized image
Coming up today:
• Coming up today we have the ongoing Eurogroup meeting, with Slovenia a possible point of discussion.
• From 13.30, we have US retail sales, followed by business inventories at 15.00.
Bet Idea:
span>The AUD/JPY’s rally off the September lows has been rather impress
ive, but nothing can go up in a straight line forever. With markets entering their weakest period, the current period could see further yen downside.
Click here to view full-sized image
A good way to play this could be LOWER trade predicting that the AUD/JPY is below 99.75 in 40 days time for a potential return of 148%.
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:
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