BetOnMarkets Daily Market Report (29th April)

Aussie leads in positive start to week

Morning Report: 08.30 London

• Markets have started the week with a positive bias, with commodity related currencies leading the charge.


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• The dollar pairs are performing well in general, with the dollar index continuing its sell off.
 

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• The dollar weakness is helping gold to continue its strong recovery after a minor sell off on Friday.

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• The yen pairs are generally following suit, though the USD/JPY has risen some way off the morning lows.

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Coming up today:

• Coming up today we have US personal spending data at 13.30, with US pending home sales released at 15.00.

• An Italian 10 y bond auction is scheduled throughout the day.

Bet Idea:

• The AUD/USD been in a relatively tight range, with 1.0270 acting as support, but a breakout could be in the offing. Poor Chinese economic data lies behind recent Aussie weakness, as well as the recent general cautious surrounding Europe. It’s rare that the AUD/USD remains range bound for long though as there are very different forces influencing the movements of this pair compared to the rest of the dollar pairs. With the dollar index starting to sell off sig
nificantly, we could see an extended breakout in either direction in the coming few days.


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• An In/Out trade predicting that the AUD/USD will close outside of 1.0250 or 1.0400 in 4 days time could return 117% 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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