Read the Daily Market Report from Dave Evans, Professional Trader
China Crunch Intensifies
Morning Report: 08.45 London
• This morning the troubles in China have continued, with the Shanghai Composite trading lower by 5.1%. There were also reports of outages in Chinese cash machines adding fuel to the disquiet within the Chinese banking sector.
•So far the trouble in China has not hurt European markets too much however, with the S&P futures in positive territory and the dollar index peeling back.
• Coming up this morning, we have UK inflation report hearings at 09.30, with the latest BBA mortgage data at the same time.
• From 13.30, we switch to core durable goods orders followed by the latest US CS house price index at 14.00. CB consumer confidence follows at 15.00 with new home sales released at the same time.
Bet Idea:
• The AUD/JPY has risen to touch the fast moving average, but this could be a time to sell rather than a sign of strength, especially with China wobbling.
China Crunch Intensifies
Morning Report: 08.45 London
• This morning the troubles in China have continued, with the Shanghai Composite trading lower by 5.1%. There were also reports of outages in Chinese cash machines adding fuel to the disquiet within the Chinese banking sector.
• So far the trouble in China has not hurt European markets too much however, with the S&P futures in positive territory and the dollar index peeling back.
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• Gold is the biggest loser though today’s losses are nominal so far.
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• The Japanese yen is also moving well, primarily on the back of dollar weakness.
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• Dollar pairs have a slight positive bias, with the EUR/ USD looking to form a base.
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Coming up today:
• Coming up this morning, we have UK inflation report hearings at 09.30, with the latest BBA mortgage data at the same time.
• From 13.30, we switch to core durable goods orders followed by the latest US CS house price index at 14.00. CB consumer confidence follows at 15.00 with new home sales released at the same time.
Bet Idea:
• The AUD/JPY has risen to touch the fast moving average, but this could be a time to sell rather than a sign of strength, especially with China wobbling.
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A good way to play this is a LOWER trade predicting that the AUD/JPY will close below 90.00 in 1 days time for a potential return of 147%
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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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Trade idea of the week…
Place a ‘Lower Than’ trade on AUD/JPY with a 90.22 Barrier for 2 days with a return of 90% (at the time of placement).
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