BetOnMarkets Daily Market Report (29th October)

Read the Daily Market Report from Dave Evans, Professional Trader


	Euro weak in early trading Morning Report: 08.15 London • This morning, financial markets have opened up with a negative bias as storms buffet the East coast of America. The New York Stock exchange will be closed toda y due to the storms, adding another level of uncertainty for traders as they await the result of the US Presidential election. • The US dollar index has been on the advance, while the USD/JPY is dropping slightly again after Friday’s big fall. Click here to view full-sized image Click here to view full-sized image • The EUR/JPY is the morning’s biggest faller, with the pair down 0.3%. The EUR/USD is not far behind, down 0.19%. Click here to view full-sized image Click here to view full-sized image Coming up today: • Coming up today we have UK net lending to individuals at 09.30. • US personal spending data follows at 12.30, with core PCE at the same time. Bet Idea: • The GBP/JPY unwound spectacularly on Friday as the yen bit back. Analysts and the Bank of England are also urging caution following the impressive UK GDP figures last week. Click here to view full-sized image • There could be further downside potential here as last week’s good news unravels further. A good way to play this might be a LOWER trade predicting that the GBP/JPY close s below 127.50 in 3 days time, with a potential return of 131%. Click here to view full-sized image This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. Summary: Click here to view full-sized image

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