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BetOnMarkets Daily Market Report (11th October)
October 11, 2012 9:31 amVideo
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Morning Report: 08.30 London
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Late last night, rating’s agency S&P downgraded the credit rating of Spain to one notch above junk. The move saw the euro drop sharply last night, but those losses have been clawed back throughout the Asian session. The ratings change is seen by many as simply formalising what the markets have already been pricing in.• The EUR/JPY is down 0.16%, with the EUR/GBP mostly unchanged over compared to last night’s close.
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• Balanced against this overnight was better than expected Australian employment change, which trumped an increasing unemployment rate. The AUD/USD is up 0.45%, with the AUD/JPY up 0.28%.
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Coming up today:
• Coming up today we have the ECB monthly bulletin at 09.00.
• From 13.30, we switch focus to North America with the release of Canadian and US trade balance. Unemployment claims are released at the same time, followed by import prices.
Bet Idea:
• The Australian dollar has shown strong relative strength in the last few sessions after the RBA unexpectedly cut rates recently. The wider m
arket is less positive, but if this changes, the AUD/USD could be the pair to shoot higher.
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A good way to play this might be a HIGHER trade predicting that the AUD/USD will be above 1.0300 in 2 days time for a potential return of 156%.
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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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