BetOnMarkets Daily Market Report (13th July)
July 13, 2012 8:39 amVideo
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Markets rebound despite China GDP slowdown.
Morning Report: 08.00 London
• This morning financial markets are finding some support despite China GDP slowing to its lowest level since 2009 (though in line with analyst’s expectations).
• The Australian dollar is leading what is is a fairly soft rebound so far, with the AUD/USD leading the pack, up 0.23%. The NZD/USD is not far behind, with the AUD/JPY up 0.16%. The Dollar index is still in an over sold position after re-testing the highs.
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• The yen pairs are travelling fairly well with the EUR/JPY rising slightly up 0.11% and the USD/JPY locked within a trading range once again.
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• Gold has swung nicely off yesterday’s lows, despite the ongoing strength in the US dollar index.
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Coming up today:
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span>• We also have an Italian bond auction running throughout the day.• We also have an Italian bond auction running throughout the day.• We also have an Italian bond auction running throughout the day.
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• Coming up today we have US PPI at 13.30 followed by Preliminary UoM consumer sentiment at 14.55.
Bet Idea:
The USD/JPY is still stuck in a tight trading range despite several attempts to drop through the 79.25 level.
The dollar index is still receiving excessive levels of public interest at the highs, while the yen is in neutral. The Japanese authorities may be waiting at the wings to halt any significant drops in the yen against the dollar, but there could still be some room for a downside bias over the next week or so.
The USD/JPY is still stuck in a tight trading range despite several attempts to drop through the 79.25 level.
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A good way to play this might be a LOWER trade on t
he USD/JPY predicting that the pair will close below 79.00 in 7 days time for a potential return of 151%. If we get a sharp move lower early in the trade, look to hedge.
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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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