Read the Daily Market Report from Dave Evans, Professional Trader
Markets rise on US economic hopes
Morning Report: 08.00 London
• This morning, markets are optimistic that the US economy has enough resilience to grow its way out of tough economic times. With China cooling off, there are growing hopes that it is the US that could lead growth in the next century, even if China fails to expand as expected. The optimism is pushing the US dollar index back from the highs as money starts to creep back into riskier assets.
• As such gold is enjoying some interest this morning, with the precious metal up 0.53%.
• Today’s main item is German ZEW economic sentiment, with a significant increase on the cards to 39.5. At the same time we have European industrial production and European ZEW data.
• At 10.30, we have the annual Australian budget release.
• Running throughout the day, we have the latest ECOFIN meetings, with Portugal and Slovenia expected to be topics on the agenda. Bet Idea:
The Australian dollar is recovering today, but there does seem to be a notable shift in sentiment away from China in recent week, towards economies more exposed to the US.
Markets rise on US economic hopes
Morning Report: 08.00 London
• This morning, markets are optimistic that the US economy has enough resilience to grow its way out of tough economic times. With China cooling off, there are growing hopes that it is the US that could lead growth in the next century, even if China fails to expand as expected. The optimism is pushing the US dollar index back from the highs as money starts to creep back into riskier assets.
• As such gold is enjoying some interest this morning, with the precious metal up 0.53%.
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• Commodity pairs were beaten up yesterday, but are showing signs of life, with the NZD/USD up 0.40% and the AUD/USD up 0.25%.
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• The yen is also on the advance as the dollar backs off, with the USD/JPY down by 0.32%.
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Coming up today:
• Today’s main item is German ZEW economic sentiment, with a significant increase on the cards to 39.5. At the same time we have European industrial production and European ZEW data.
• At 10.30, we have the annual Australian budget release.
• Running throughout the day, we have the latest ECOFIN meetings, with Portugal and Slovenia expected to be topics on the agenda.
Bet Idea:
The Australian dollar is recovering today, but there does seem to be a notable shift in sentiment away from China in recent week, towards economies more exposed to the US.
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• This could mean more downside for the AUD/JPY, especially taking into account May’s poor seasonality.
A LOWER trade on the AUD/JPY predicting that it will close below 99.50 in 10 days time could return 27
0% 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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