BetOnMarkets Daily Market Report (20th March)

Markets lift again ahead of Fed

Morning Report: 08.30 London

• This morning, financial markets are on the rise again after a mixed session on Asian. The move comes despite Cyprus approaching Russia for formal assistance after the bank levy was rejected by parliament.

• The euro is the main mover as hopes rise of at least some form of resolution for Cyprus. The EUR/JPY is up 0.55%, with the EUR/USD and EUR/GBP up 0.31%.

           

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• The yen pairs are generally on the rise, with the AUD/JPY up 0.37%.

               
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Coming up today:

• We’ve a busy day ahead today, starting with European current account data at 09.00.

• The morning’s main item is the the latest UK MPC meeting with no change expected in this or in the claimant count changed. Then from 12.30 we have the annual UK budget release.

• From 18.00 we have the latest FOMC statement and economic projections, followed by the press conference at 18.30.

Bet Idea:

• The euro has handled the Cyprus crisis relatively well and with a resolution still in the balance it says something that the EUR/USD is on the rise this morning.

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• With Fed days having a bullish bias, there could be further upside potential here. We’re unlikely to see the last of the Cyprus crisis or indeed the euro crisis as a whole, but there is room for a short term bounce.

• A good way to play this could be a HIGHER trade predicting that the EUR/USD closes above 1.2950 in 2 days time could return 139%.

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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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