Read the Daily Market Report from Dave Evans, Professional Trader
Markets volatile after Italian deadlock Morning Report: 08.30 London• Italy looks to be heading to a second general election as anti austerity parties make unexpected gains. Much of the reaction came yesterday, with selling intensifying into the US close. This morning, there is a mild bounce, or at least some stabilisation, but the picture looks as though it could change rapidly.
• At 10.00 today we have the latest UK inflation report hearings, followed by CBI realised sales at 11.00.
• From 15.00 we have US CB consumer confidence, Fed chairman Bernanke testifying and new home sales.
Bet Idea:
• After rising within touching distance of its highest levels since 2011, the EUR/GBP sold off heavily yesterday. Even with this, there’s still room for more euro downside as the pound recovers and uncertainty likely until a ruling coalitio n is elected in Italy.
Morning Report: 08.30 London• Italy looks to be heading to a second general election as anti austerity parties make unexpected gains. Much of the reaction came yesterday, with selling intensifying into the US close. This morning, there is a mild bounce, or at least some stabilisation, but the picture looks as though it could change rapidly.
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• The euro is currently recovering well, with the EUR/USD up 0.20% and the EUR/GBP up 0.17%.
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• The pou
nd is showing some relative weakness after holding up well yesterday after governor King’s comments this morning.
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• The AUD/JPY is also showing some strength this morning after a heavy sell-off yesterday.
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Coming up today:
• At 10.00 today we have the latest UK inflation report hearings, followed by CBI realised sales at 11.00.
• From 15.00 we have US CB consumer confidence, Fed chairman Bernanke testifying and new home sales.
Bet Idea:
• After rising within touching distance of its highest levels since 2011, the EUR/GBP sold off heavily yesterday. Even with this, there’s still room for more euro downside as the pound recovers and uncertainty likely until a ruling coalitio
n is elected in Italy.
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A good way to play this could be a LOWER trade predicting that the EUR/GBP closes below 0.85575 in 8 days time for a potential return of 154%.
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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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