BetOnMarkets Daily Market Report (15th October)

• Concerns about the slowdown in China continue to weigh on markets after Chinese PPI came in below estimates this morning. While new economies come off the boil, the old economies of Europe are still on life support as Spain still holds out against requesting European/IMF aid. With no significant data due this morning, we the situation to remain down beat until midday when we have the potential for a change (or worsening of conditions) with the the first set of US data and company earnings.

• Risk appetite is off this morning, sending money into the US dollar which is up around 0.35% this morning. Gold is the main casualty, down 0.5%. Gold has become less of a hedge for bad times and more a speculation tool, moving up and down in line with risk appetite.

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• The other dollar pairs are following suit, with the NZD/USD and GBP/USD down 0.32% in early trading.

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• The yen is relatively soft though after revised Japanese industrial production fell well below estimates.

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Coming up today:

• Coming up today we have US retail sales at 13.30 with Empire State Manufacturing released at the same time.

• From 15.00 we have US business inventories, followed by Canadian BOC business outlook at 15.30.

Bet Idea:

• Gold’s bull run is becoming increasingly unstuck, with this biggest pull back since July. Gold has had a tendency to bounce from over sold levels, but we’re not
quite there yet, meaning there could be more downside potential here.



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A LOWER trade predicting that gold closes below $1725 in 7 days time could return 260%.


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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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