BetOnMarkets Daily Market Report (2nd May)

All Eyes On the ECB

Morning Report: 08.00 London

• This morning, financial markets have a negative bias after the S&P 500 sold off into the close last night. This morning, the negative tone has continued, after Australian building approvals came in below expectations.

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• The AUD/JPY is down 0.58%, the AUD/USD 0.48% and theNZD/USD down 0.47% as a consequence.

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• Price movements are relatively constrained in Europe however, ahead of the rate decision from the ECB who are widely expected to be cutting rates by 0.25% to 0.5% today.


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Coming up today:

• Coming up today we have UK construction PMI at 09.30.

• The main item today is the ECB rate sta
tement, due at 12.45, with the press conference to follow at 13.30.

• Canadian and US trade balance numbers are released at 13.30, with unemployment claims
expected to rise at the same time.

Bet Idea:

While the big focus is on Europe today, the pound has quietly been building up some strength. On the GBP/JPY, this has translated into the pair sticking to a tight trading range as the strong pound is offset by the strong yen.



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• However, today’s economic calendar and tomorrow’s US jobs report should see this impasse break one way or the other.

• A good way to play this could be an IN/OUT trade predicting that the GBP/JPY goes outside of (touches) e
ither 148.50 or 154.00 in 4 days time for a potential return of 148%. 

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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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