Read the Daily Market Report from Dave Evans, Professional Trader
Australian dollar recovers strongly
Morning Report: 08.15 London
• Financial markets rallied well into the close last night, with some follow through buying in certain currencies this morning. The Australian dollar continues to out perform thanks to its close links to China. The AUD/JPY is up 0.22%, the AUD/USD up 0.2%, with the NZD/USD up 0.15%.
• Away from the China players, markets are fairly flat though as Spanish worries continue to haunt the euro, while the British pound is still reeling after yesterday’s GDP shock.
• Today we have ECB president Draghi speaking at 10.30.
• At 13.30 we have US core durable goods and unemployment claims released at the same time.
• Pending home sales are released at 15.00.
Bet Idea:
• It says something about the weakness of the British pound, that it is under performing the euro throughout the current crisis.
• The EUR/GBP has been in a down trend throughout July, but this has been reversing in the last couple of days. While the outlook for the euro is bleak, Britain’s economy is no bed of roses either. Even if the euro continues to fall, there is still a chance of it falling faster than the British pound.
Australian dollar recovers strongly
Morning Report: 08.15 London
• Financial markets rallied well into the close last night, with some follow through buying in certain currencies this morning. The Australian dollar continues to out perform thanks to its close links to China. The AUD/JPY is up 0.22%, the AUD/USD up 0.2%, with the NZD/USD up 0.15%.
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• Away from the China players, markets are fairly flat though as Spanish worries continue to haunt the euro, while the British pound is still reeling after yesterday’s GDP shock.
Click here to view full-sized image
Click here to view full-sized image
• Gold is quiet after a strong day yesterday.
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Coming up today:
• Today we have ECB president Draghi speaking at 10.30.
• At 13.30 we have US core durable goods and unemployment claims released at the same time.
• Pending home sales are released at 15.00.
Bet Idea:
• It says something about the weakness of the British pound, that it is under performing the euro throughout the current crisis.
•
The EUR/GBP has been in a down trend throughout July, but this has been reversing in the last couple of days. While the outlook for the euro is bleak, Britain’s economy is no bed of roses either. Even if the euro continues to fall, there is still a chance of it falling faster than the British pound.
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A good way to play this might be a HIGHER trade predicting
that the EUR/GBP closes above 0.7875 in 7 days time for a potential return of 156%.
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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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