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BetOnMarkets Daily Market Report (27th November)
November 27, 2012 10:02 amVideo
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Morning Report: 08.15 London
• Markets have a positive bias this morning after international leaders agreed an overhaul of the Greek debt program. The main meat of the changes are a reduction of interest rates and a transfer of bond profits back into the bailout pot. While markets have rallied, the moves are relatively mooted, reflecting the general scepticism that this will be the final word on Greek debt, especially as it largely depends on the Greek economy improving.
• The main movement is on the yen pairs with the AUD/JPY up 0.36% and the EUR/JPY up 0.28%. Quite whether this move is down to renewed confidence or simply yen weakness is unclear at present.
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• The dollar index is generally weaker, having gapped down on the Greek debt news.
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Coming up today:
• Coming up today, we have UK revised GDP at 09.30 with a 1% rise expected.
• From 1.30, we have US core durable goods orders followed by the latest S&P/ Case-Shiller house price index at 14.00.
Bet Idea:
• The EUR/GBP has risen tentatively in the last few days, testament to the ongoing risks that the eu
rozone faces, even with the latest Greek bailout deal.
• While markets have generally welcomed the Greek deal, there are still many questions to be answered, not least whether the IMF tranche will be paid. The EUR/GBP could face some downside pressure after rallying over the last few weeks.
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A good way to play this could be a LOWER trade predicting that the EUR/GBP closes below 0.8050 in 7 days time for a potential return of 288%.
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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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