BetOnMarkets Daily Market Report (20th July)

Rally runs out of steam
Morning Report: 08.00 London

• Risk assets have rallied well this week, but the buying interest appears to have run out of steam in the last 24 hours. This morning, the Japanese yen is in demand as traders offload some of their more speculative positions from recent days.

• The
yen pairs are the main movers so far with the major pairs of the EUR/JPY, AUD/JPY & GBP/JPY down around 0.2%.



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• The dollar pairs are also struggling for traction, with even the AUD/USD faltering this morning.



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Coming up today: 


• Today we have UK public sector net borrowing figures, out at 09.30 with a drop in borrowing to 11.8bn expected.

• Canadian core CPI follows at 13.30.

• Eurogroup meetings run throughout the day in the background.



Bet Idea:

Markets seem to be at something of a crossroads with the current rally running out of steam and Eurozone concerns increasing. While the AUD/USD has rallied well this week, while the AUD/JPY has struggled due to the ongoing strength in the Japanese yen. With the generally rally stalling slightly, if there is to be a sustained revers
al, the AUD/JPY could see some exaggerated movements lower.



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A good way to play this might be a LOWER trade predicting tha
t the AUD/JPY closes below 81.50 in 4 days time for a potential return of 159%


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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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