BetOnMarkets Daily Market Report (2nd April)

Read the Daily Market Report from Dave Evans, Professional Trader


	Yen extends bull run Morning Report: 08.30 London • This morning, the Japanese yen is continuing to strengthen ahead of a highly anticipated Bank of Japan meeting on Thursday. The USD/JPY has dropped for the for the second straight day, with the AUD/JPY continuing to drop below its moving average. Click here to view full-sized image Click here to view full-sized image • Meanwhile, the dollar index continues to weaken, helping the AUD/USD and NZD/USD to rise significantly this morning. Click here to view full-sized image Click here to view full-sized image Click here to view full-sized image Coming up today: • Already today, Australian interest rates have come in unchanged as expected. Spani sh unemployment change was better than anticipated, while manufacturing PMI continued to worsen. • Coming up today, we have UK manufacturing PMI at 09.30. European unemployment rates follow at 10.00. Bet Idea: • The situation in Cyprus appears to have eased this morning, with talk of improved bailout conditions for the embattled island. • Europe is still not out of the woods though, with Italy yet to form a working government. With stock markets continuing to struggle at the highs, there could be more downside for the main ‘risk on/risk off’ pair the AUD/JPY. Click here to view full-sized image • A good way to play this could be a LOWER trade predicting that the AUD/JPY will close below 96.75 in 5 days time for a potential return of 125%. 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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