Read the Daily Market Report from Dave Evans, Professional Trader
Euro drags again Morning Report: 08.30 London
• This morning, Cyprus is acting as a drag sail for the euro (and markets as a whole) as investors warily await the re-opening of banks tomorrow. In other news, Italy is still without a working government and tensions are on the rise in North Korea.
• All the major euro pairs are off today, with the EUR/JP Y the biggest mover.
• We’ve a busy day ahead today with UK current account data at 09.30 and final GDP figures out at the same time.
•From 12.30 we have Canadian CPI followed by US pending home sales at 14.00.
•Also running throughout the day, we have an Italian bond auction.
Bet Idea:
• We are entering a crucial 24 hour period for Cyprus with the outcome decidedly unclear. Policy makers may have avoided a disaster, but they are yet to get to the bottom of underlying problems.
• However, the EUR/GBP is sitting on support and with the EUR/GBP following a fairly reliable up/ down pattern in recent days, there could be some upside by tomorrow’s close.
Euro drags again
Morning Report: 08.30 London
• This morning, Cyprus is acting as a drag sail for the euro (and markets as a whole) as investors warily await the re-opening of banks tomorrow. In other news, Italy is still without a working government and tensions are on the rise in North Korea.
• All the major euro pairs are off today, with the EUR/JP
Y the biggest mover.
Click here to view full-sized image
Click here to view full-sized image
• Gold is also slipping back as the dollar index pushes towards the highs once again.
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Coming up today:
• We’ve a busy day ahead today with UK current account data at 09.30 and final GDP figures out at the same time.
• From 12.30 we have Canadian CPI followed by US pending home sales at 14.00.
• Also running throughout the day, we have an Italian bond auction.
Bet Idea:
• We are entering a crucial 24 hour period for Cyprus with the outcome decidedly unclear. Policy makers may have avoided a disaster, but they are yet to get to the bottom of underlying problems.
Click here to view full-sized image
• However, the EUR/GBP is sitting on support and with the EUR/GBP following a fairly reliable up/ down pattern in recent days, there could be some upside by tomorrow’s close.
• A good way to play this could be a HIGHER trade predicting that the EUR/GBP closes above 0.8475. This could retur
n 137% 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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