Read the Daily Market Report from Dave Evans, Professional Trader
China manufacturing still slowing
Morning Report: 08.30 London
• This morning, financial markets are on the slide after Chinese manufacturing data continued to indicate a slow down (albeit at a slower pace than last month). The news has hit the Australia dollar hard, with the currency closely tied to China with its commodity exports.
• The AUD/JPY is down 1.33% in early trading, with the AUD/USD down 1.01%. Stock market futures are also trading lower.
• Coming up today, we have a raft of European manufacturing and services data points starting with German data at 08.30 and European data at 09.00. French data has already come in well below estimates.
• UK retail sales come in at 09.30 with a drop of 0.3% expected.
• US unemployment claims follow at 13.30, with flash manufacturing PMI at 14.00.
• The Philly Fed Manufacturing index is released at 15.00.
• UK Bank of England governor King speaks at 19.00.
Bet Idea:
• last week’s ‘europhoria’ is starting to subside, with the dollar index finding some momentum.
• With doubts creeping in about the timing of a Spain bailout, there could be further downside to come for the EUR/USD.
Morning Report: 08.30 London
• This morning, financial markets are on the slide after Chinese manufacturing data continued to indicate a slow down (albeit at a slower pace than last month). The news has hit the Australia dollar hard, with the currency closely tied to China with its commodity exports.
• The AUD/JPY is down 1.33% in early trading, with the AUD/USD down 1.01%. Stock market futures are also trading lower.
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Click here to view full-sized image
• The S&P 500 is dropping, while the dollar index advances as traders seek out safer harbours.
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Click here to view full-sized image
• The yen pairs are seeing the biggest moves, with the USD/JPY down 0.26%, the EUR/JPY down 0.74% and the GBP/JPY down 0.49%.
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• Gold has hit a ceiling around the $1775.
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Coming up today:
• Coming up today, we have a raft of European manufacturing and services data points starting with German data at 08.30 and European data at 09.00. French data has already come in well below estimates.
• UK retail sales come in at 09.30 with a drop of 0.3% expected.
• US unemployment claims follow at 13.30, with flash manufacturing PMI at 14.00.
• The Philly Fed Manufacturing index is released at 15.00.
• UK Bank of England governor King speaks at 19.00.
• last week’s ‘europhoria’ is starting to subside, with the dollar index finding some momentum.
• With doubts creeping in about the timing of a Spain bailout, there could be further downside to come for the EUR/USD.
Click here to view full-sized image
A good way to play this might be a LOWER trade predicting that the EUR/USD closes below 1.2900 in 1 days time for a potential return of 212%.
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This is present
ed as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
Summary:
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