BetOnMarkets Daily Market Report (22nd October)

Read the Daily Market Report from Dave Evans, Professional Trader


	Yen struggles on Japanese trade balance data Morning Report: 08.30 London • The yen is the main mover this morning after the Japanese trade balance deficit unexpectedly widened. The EUR/JPY is up 0.69%, with the GBP/JPY up 0.62%. The USD/JPY is the main driver of this trend, up 0.46%. Click here to view full-sized image Click here to view full-sized image • The euro is showing some relative strength this morning and not just in the yen pairing, with the EUR/USD up 0.24%. Click here to view full-sized image • Gold is also enjoying the general ‘risk on’ theme, up 0.18%. Click here to view full-sized image Coming up today: • FOMC member Pianalto speaking at 18.30 is the only economic item of note today. Bet Idea: • The USD/JPY is now rising for its eight day in a row ostensibly because of rumours of a Bank of Japan intervention. The last week’s rally has pushed the pair some way off the lows of the summer and even further from the 2011 lows. Click here to view full-sized image • While the medium term trend might be higher, in the shorter term the could be a correction here as the yen sell off overboils. A good way to play this might be a LOWER trade predicting that the USD/JPYcloses below 79.15 in 7 days for a potential return of 227%. 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

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