Read the Daily Market Report from Dave Evans, Professional Trader
Pound extends rally on King comments Morning Report: 08.30 London
• Financial markets have been positive overnight as Asian markets reacted to better than expected US unemployment claims. As we enter the European session, markets have a more neutral tone with overnight futures pulling back from the highs. The dollar index is once again testing its rising moving average.
• The pound is leading again after MPC governor King gave an abrupt change of tone when he warned of the dangers of Sterling being too weak, stating that th e pound was “properly valued”. The pound pairs are generally 0.2% to 0.3% to the good this morning, with little significant movement elsewhere.
• Coming up today, we have European inflation data at 10.00, with US CPI due at 12.20.
• From 13.15 we have US capacity utilisation rate, followed by prelim UoM consumer sentiment.
Bet Idea:
• We were too early with our prediction on the AUD/JPY to finish lower earlier in the week, but if anything, that such has pushed the pair further into over bought territory. One bitten, twice shy, but the potential for a pullback still remains on the pair and markets as a whole.
Daily Market Report from Dave Evans,
Professional Trader
Pound
extends rally
on King
comments
Morning Report:
08.30 London
•
Financial
markets have
been positive
overnight as
Asian markets
reacted to
better than
expected US
unemployment
claims. As we
enter the
European
session,
markets have a
more neutral
tone with
overnight
futures
pulling back
from the
highs. The
dollar index
is once again
testing its
rising moving
average.
Click here
to view full-sized image
• The
pound is
leading again
after MPC
governor King
gave an abrupt
change of tone
when he warned
of the dangers
of Sterling
being too
weak, stating
that th e
pound was
“properly
valued”. The
pound pairs
are generally
0.2% to 0.3%
to the good
this morning,
with little
significant
movement
elsewhere.
Click
here to view full-sized
image
Click
here to view
full-sized image
Coming up today:
•
Coming up today, we have
European inflation data
at 10.00, with US CPI
due at 12.20.
• From 13.15 we
have US capacity
utilisation rate,
followed by prelim UoM
consumer sentiment.
Bet Idea:
• We were too
early with our
prediction on
the AUD/JPY to
finish lower
earlier in the
week, but if
anything, that
such has
pushed the
pair further
into over
bought
territory. One
bitten, twice
shy, but the
potential for
a pullback
still remains
on the pair
and markets as
a whole.
Click
here to view full-sized
image
A
LOWER trade predicting that
the AUD/JPY closes below
99.25 in 4 days time 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:
Click
here to view full-sized
image
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