BetOnMarkets Daily Market Report (23rd May)

Aussie plunges as China factory output hits seven month low

Morning Report: 08.00 London

• This morning world markets have continued selling off from the highs following news that Chinese flash manufacturing PMI came in below estimates to 49.6. The FTSE 100 futures gapped lower on the news, though is now recovering from the initial lows on better than expected European manufacturing data.



Click here to view full-sized image

• The Australian dollar is the biggest casualty with its close commodity links to China. The AUD/JPY is off by 1.88%, with the AUD/USD down by 0.62%.

Click here to view full-sized image

• The yen pairs are generally weak as the USD/JPY shifts to the downside by 1.27%.



Click here to view full-sized image



• The euro is performing relatively well though after French and then German Manufacturing PMI came in above initial estimates.

Click here to view full-sized image



Coming up today:

• Coming up today we have Europe wide flash manufacturing PMI at 09.00, with UK second estimate GDP at 09.30.

• From 13.30, we have US unemployment claims, with flash manufacturing PMI at 14.00. New home sales follow at 15.00.

• The evening finishes with ECB president Draghi speaking at 20.30.

Bet Idea:

• When the AUD/JPY picks up a tail wind, it can move very quickly, which could mean further
short term downside for the pair.



Click here to view full-sized image

A good way to play this could be a ONE TOUCH trade predicting that the AUD/JPY will touch the April lows at 97.00 before the close on Friday. This could return 181% 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