BetOnMarkets Daily Market Report (19th July)

Gold rebounds but euro questions remain

Morning Report: 08.00 London

• Yesterday saw some strong buying action, but the euro and gold still lagged. This morning gold is finally coming to the party, with a rise of 0.46% so far. The strength today is partly due to the US dollar index selling off.



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• However, the euro still lags considerably, with the EUR/JPY down 0.20%, while the EUR/USD is up by a small margin. Concerns over Spain still linger.



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• The yen is still the dominant currency as seen by the 0.27% drop in the USD/JPY so far this morning.

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• The AUD/USD continues to set the pace, though I cannot escape the feeling that markets might take their foot off the pedal over the next few days.



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Coming
up today: 

Euro current account data is due at 09.00, followed by UK retail sales at 09.30.

US unemployment claims follow at 13.30 with a rise to 367k expected.

Existing home sales arrive at 15.00 with the Philly Fed manufacturing index at the same time.

Bet Idea:

The EUR/GBP has dropped significantly in July, but has been stuck in the doldrums for the last couple of days.



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It is doubtful that we’ve seen the last of the euro crisis, but with the pair sitting right on long term support and the euro still over sold against the US do
llar, there could be room for upside over the next seven days.

A good way to play this might be a HIGHER trade predicting
that the EUR/GBP closes above 0.7875 in 7 days time for a potential return of 169%.

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This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. 

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Summary:


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