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BetOnMarkets Daily Market Report (21st February)
February 21, 2013 9:21 amVideo
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Morning Report: 08.30 London• This morning, financial markets are on the slide after the release of the minutes from the last FOMC meeting. The minutes implied that the Fed was doubtful over continuing an open ended third round of Quantitative Easing, news that risk markets did not particularly want to hear.
• Stock markets are pulling back from the highs while the dollar index is approaching its highest levels since Nove
mber as investors pull back the risk throttle.
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• The yen pairs are seeing the biggest movement, with the GBP/JPY singled out for punishment and down 0.65%. The EUR/JPY is down 0.51%. The AUD/JPY is down 0.48% and last night closed significantly below its short term moving average for the first time since November.
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• The dollar pairs are showing a similar pattern with the GBP/USD off 0.36% and the EUR/USD off 0.21%. So far this morning, French and German PMI data has come in below estimates.
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Coming up today:
• We’ve a busy day for economic data ahead with pan European PMI data still to come.
• From 09.30 we have the latest public sector net borrowing figures from the UK, followed by CBI industrial order expectations at 11.00.
•Core
US CPI follows at 13.30, with unemployment claims at the same time. Flash manufacturing is released at 14.00, with the Philly Fed manufacturing index and existing home sales out at 15.00.
Bet Idea:
• We have what looks like a volatile day ahead of us as traders digest a very busy economic calendar. This could lead to lower lows for the EUR/USD in the next couple of days.
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A good way to play this could be a ONE TOUCH trade predicting that the EUR/USD touches a low of 1.3125 at some point before tomorrow’s close. This could return 154% if successful.
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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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