Read the Daily Market Report from Dave Evans, Professional Trader
Euro drops as Greek feud erupts
Morning Report: 08.15 London •This morning, financial markets are under pressure as the IMF and Eurogroup disagree on the terms of the Greek bailout. The issue is ever more pressing as Greece has €5bn of debt payments due on Friday. This was expected to be a formality before the current impasse, and it should still be, but it does highlight how nothing is ever straight forward in European politics.
• The S&P 500 futures are dropping off in early trading, while the yen makes big gains on the safe haven drive.
• Coming up today we have UK CPI at 09.30 and RPI, with both expect to rise to 2.3% and 2.9%.
• From 10.00, we have German ZEW economic sentiment, with European sentiment released at the same time. • From 19.00, we have the US Federal budget balance figures. Bet Idea: span>
• The USD/JPY is lower again today, but we’ve not yet seen the powerful move lower that could be on the cards. Public sentiment was pushed against the yen as rumours circulated of direct Bank of Japan action to weaken the currency, but this is yet to be forthcoming.
Morning Report: 08.15 London• This morning, financial markets are under pressure as the IMF and Eurogroup disagree on the terms of the Greek bailout. The issue is ever more pressing as Greece has €5bn of debt payments due on Friday. This was expected to be
a formality before the current impasse, and it should still be, but it does highlight how nothing is ever straight forward in European politics.
• The S&P 500 futures are dropping off in early trading, while the yen makes big gains on the safe haven drive.
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• The yen pairs are the main movers, with the EUR/ JPY down by 0.52%, the AUD/ JPY off by 0.50% and the GBP/ JPY down by 0.37%.
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• Gold is struggling as the US dollar index gains ground. The same move is forcing the EUR/ USD lower by 0.16%.
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Coming up today:
• Coming up today we have UK CPI at 09.30 and RPI, with both expect to rise to 2.3% and 2.9%.
• From 10.00, we have German ZEW economic
sentiment, with European sentiment released at the same time.
• From 19.00, we have the US Federal budget balance figures.
Bet Idea:
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• The USD/JPY is lower again today, but we’ve not yet seen the powerful move lower that could be on the cards. Public sentiment was pushed against the yen as rumours circulated of direct Bank of Japan action to weaken the currency, but this is yet to be forthcoming.
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There’s good potential for further downside here and a LOWER trade predicting that the USD/JPY trades below 79.00 in 6 days time could return 145% 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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