BetOnMarkets Daily Market Report (1st August)
August 1, 2012 9:21 amVideo
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US dollar slips back further
Morning Report: 08.15 London
• This morning there are some signs of an optimistic bias in the early opening salvos, particularly as the the US dollar index drops further from the highs. The first day of the month does tend to have a positive bias, so this may be one of the main drivers today as traders hold back on big moves ahead of this evening’s FOMC statement.
• The NZD/ USD is the best moving currency, with the pair up 0.42% this morning.
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• Gold is also benefiting from the weaker dollar, with the precious metal up 0.23%.
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• The euro continues to perform well, again helped by the weaker US dollar, up around 0.2%.
Coming up today:
• This morning, Spanish manufacturing figures have just come better than expected in Italian manufacturing numbers are released at 08.45 and expected to continue the contraction scenario.
• UK manufacturing figures are released at 09.30 with no change expected.
• At 13.15 we have US ADP non farm employment change with a figure of 121k expected.
• US ISM manufacturing follows at 15.00
•
At 19.15, we have perhaps the days main event, the FOMC statement.
Bet Idea:
• With both the FOMC and ECB making important announcements in the next 48 hours, we could be on the verge of some significant volatility. The problem is that expectations have risen ahead of both meetings, with the minimum expected outcome setting a high barrier
to over come. So while there is upside potential, there is a very real danger of disappointment and a large downside move.
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In this situation it may be best to hedge bets
with an IN/OUT trade which predicts that the EUR/ USD Goes Outside either 1.2050 or 1.2500 in the next two days for a potential return of 113%. Note, this uses the “stays between/goes outside” option.
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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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