BetOnMarkets Daily Market Report (21st March)

Euro dips on French economic dip

Morning Report: 08.30 London

• Markets had a mixed overnight session as stronger than expected Chinese manufacturing data rubbed up against continued confusion over Cyprus. This morning, markets have dipped lower again after French and then German manufacturing PMI came in below estimates.

• The pound and euro are heading in different directions this morning with the EUR/JPY down by 0.53% and the EUR/GBP off by 0.48%.

           

Click here to view full-sized image

           

Click here to view full-sized image

• By contrast, the pound is holding firm as traders continue to react positively to the UK budget. The EUR/GBP is down 0.48%.

               

Click here to view full-sized image

Coming up today:

• Coming up today we have European manufacturing PMI due at 09.00, with this now expected to disappoint.

• UK retail sales follow at 09.30, with the latest public sector net borrowing figures.

• Bank of Japan governor Kuroda speaks at 10.00.

• From 12.30 we switch to North America, with Canadian retail sales at 12.30 and US unemployment sales out at the same time. US manufacturing PMI is released at 13.00. The Philly Fed and new home sales follow at 14.00.

Bet Idea:

• The NZD/USD has lagged it’s neighbour the AUD/USD by some margin and with toda
y already having a negative tone, there could be more downside here before a sustained rally sets in.

Click here to view full-sized image

• 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 HIGHER trade on the NZD/USD predicting that it will close below 0.8250 in 4 days time could return 140% if successful.

Click here to view full-sized image

This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.

Summary:  
 

Click here to view full-sized image