Read the Daily Market Report from Dave Evans, Professional Trader
Yen Powers Back
Morning Report: 08.30 London
• This morning, markets are reversing yesterday’s trends with the yen powering back and the Australian dollar sinking to new lows.
•The yen is generally stronger after the Bank of Japan refrained from extending the duration of their fixed rate funding operation – something that could have had a weakening effect. The USD/JPY is off by 1.10%, with the other major yen pairs falling by the same amount with the exception of the AUD/USD. span>
• The Australian dollar is being singled out today after lower than expected new home loans data. Perhaps more damaging are reports that Goldman Sach lowered their 12 month price target on the AUD/USD to 0.85.
• Coming up today we have the first day of the German constitutional court hearing – This is expected to pass, but such an outcome is far from guaranteed.
• The other main item is UK manufacturing production at 09.30, with GDP estimates at 15.00.
Bet Idea:
• The AUD/USD has continued is down swing as the former world beater topples from its perch. Goldman have so far been spot on with their assessments of the Aussie economy and AUD/USD price projections, so it could be wise to follow suit here.
Yen Powers Back
Morning Report: 08.30 London
• This morning, markets are reversing yesterday’s trends with the yen powering back and the Australian dollar sinking to new lows.
• The yen is generally stronger after the Bank of Japan refrained from extending the duration of their fixed rate funding operation – something that could have had a weakening effect. The USD/JPY is off by 1.10%, with the other major yen pairs falling by the same amount with the exception of the AUD/USD.
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• The Australian dollar is being singled out today after lower than expected new home loans data. Perhaps more damaging are reports that Goldman Sach lowered their 12 month price target on the AUD/USD to 0.85.
Click here to view full-sized image
Coming up today:
• Coming up today we have the first day of the German constitutional court hearing – This is expected to pass, but such an outcome is far from guaranteed.
• The other main item is UK manufacturing production at 09.30, with GDP estimates at 15.00.
Bet Idea:
• The AUD/USD has continued is down swing as the former world beater topples from its perch.
Goldman have so far been spot on with their assessments of the Aussie economy and AUD/USD price projections, so it could be wise to follow suit here.
Click here to view full-sized image
• A ONE TOUCH trade predicting that the AUD/USD will touch 0.8500 at some point in the next 12 months could return 130% 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:
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