Read the Daily Market Report from Dave Evans, Professional Trader
China manufacturing highest in two years
Morning Report: 08.30 London• Markets have a positive bias this morning after Chinese manufacturing PMI came in at its highest levels for two years. The yen pairs are on the move again this morning, this time to the upside after the Japanese trade balance came in at its biggest ever.
•The EUR/ JPY is the biggest mover, with the AUD/JPY lagging somewhat.
• We’ve a very busy day ahead of us today with a raft of European data, starting with French Manufacturing & Services PMI at 08.00, followed by German data at 08.30 then European data at 09.00.
• UK CBI realised sales are released at 11.00. US unemployment claims follow at 13.30.< /span>
Bet Idea:
• Stock markets continue to look ‘toppy’ with a pull back on the cards. This could impact the main ‘risk on’ currency pair, the AUD/JPY which has been holding up well in recent days. The rising 12 period moving average is sitting below the price at the mom ent, but after a successful test last week, there could be more momentum for a downside move this week.
Morning Report: 08.30 London• Markets have a positive bias this morning after Chinese manufacturing PMI came in at its highest levels for two years. The yen pairs are on the move again this morning, this time to the upside after the Japanese trade balance came in at its biggest ever.
• The EUR/ JPY is the biggest mover, with the AUD/JPY lagging somewhat.
Click here to view full-sized image
Click here to view full-sized image
• The dollar pairs are mixed with the USD/CAD stable following a big rally yesterday. The EUR/USD is performing well, while gold backs off.
Click here to view full-sized image
Click here to view full-sized image
Coming up today:
• We’ve a very busy day ahead of us today with a raft of European data, starting with French Manufacturing & Services PMI at 08.00, followed by German data at 08.30 then European data at 09.00.
• UK CBI realised sales are released at 11.00. US unemployment claims follow at 13.30.<
/span>
Bet Idea:
• Stock markets continue to look ‘toppy’ with a pull back on the cards. This could impact the main ‘risk on’ currency pair, the AUD/JPY which has been holding up well in recent days. The rising 12 period moving average is sitting below the price at the mom
ent, but after a successful test last week, there could be more momentum for a downside move this week.
Click here to view full-sized image
A LOWER trade predicting that the AUD/JPY closes below 93.00 at the close on Friday could return 117% 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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