Read the Daily Market Report from Dave Evans, Professional Trader
Markets extend rally, but worst six months loom Morning Report: 08.30 London
• Last night world stock markets rallied into the close, with the S&P 500 rising by more than 1%. This morning markets have taken a step back following worse than expected Australian jobs data.
• Coming up today, we have US unemployment claims at 13.30, with import prices relea sed at the same time.
•UK MPC member Tucker speaks at 14.00.
Bet Idea:
• According to SentimenTrader’s Jason Goepfert, the recent rally may not automatically be good news due to the fact that stocks have formed an intermediate term peak in April/ early may in each of the last three years. We are also entering what has historically been the worst six month period for stock markets.AUD/JPY has continued its strong trend with more upside potential following strong Chinese data.
• This along is not enough to trigger a sell off, but we could at least see some volatility. This could seen in the EUR/USD, with the political and economic situation still uncertain.
Markets extend rally, but worst six months loom
Morning Report: 08.30 London
• Last night world stock markets rallied into the close, with the S&P 500 rising by more than 1%. This morning markets have taken a step back following worse than expected Australian jobs data.
• The news has set the AUD/JPY down by 0.35%.
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• The yen pairs are lower in general, with the USD/JPY shy of the 100.00 level, its highest point since 2009.
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• Gold is lower again despite denials from the Bank of Cyprus that it is planning to sell off large amounts of its gold reserves.
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• The power currency at the moment appears to be the NZD/USD with four solid sessions so far this week.
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Coming up today:
• Coming up today, we have US unemployment claims at 13.30, with import prices relea
sed at the same time.
• UK MPC member Tucker speaks at 14.00.
Bet Idea:
• According to SentimenTrader’s Jason Goepfert, the recent rally may not automatically be good news due to the fact that stocks have formed an intermediate term peak in April/ early may in each of the last three years. We are also entering what has historically been the worst six month period for stock markets.AUD/JPY has continued its strong trend with more upside potential following strong Chinese data.
Click here to view full-sized image
• This along is not enough to trigger a sell off, but we could at least see some volatility. This could seen in the EUR/USD, with the political and economic situation still uncertain.
• A ONE TOUCH trade predicting that the EUR/USD could touch 1.
2875 in the next 26 days could return 114% if successful.
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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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