BetOnMarkets Daily Market Report (31st January)

Morning Report: 08.30 London

• This morning, financial markets are on the back foot, with the S&P experiencing its biggest sell-off since mid December. There has been a delayed reaction to the US GDP data which came in below estimates, while traders are also keen to book profits from the strong 2013 rally ahead of tomorrow’s Non Farm Payrolls.

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• The euro is also weak this morning and for the first time in a number of sessions is weak relative to other currencies.

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• The yen pairs are also falling back as the Japanese yen recovers in this general ‘risk off’ atmosphere.

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Coming up today:

• Coming up today we have German unemployment changed at 08.55 with a small increase expected.

• From 13.30 we switch to North America, with Canadian GDP data and US unemployment claims.

Bet Idea:

• The AUD/JPY has found support with its 12 period moving average in recent sessions, having survived a number of tests.
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• Markets are looking a little toppy in the medium term, but in the short term, it’s been very hard to bet against the AUD/JPY in recent weeks.

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A good way to play this could be a HIGHER trade predicting the AUD/JPY closes above 94.75 at the close on Friday Feb 1st. This could return 116% 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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