BetOnMarkets Daily Market Report (31st July)

Markets wait on central bank action

Morning Report: 08.30 London

• This morning financial markets are fairly quiet as markets await the bold action promised by the ECB and potentially other central banks. The ECB are hoped mulling over direct support for sovereign governments and some sort of Quantitative Easing.

• There’s generally a positive bias with the yen slipping back this morning. The AUD/JPY and EUR/JPY the the morning’s biggest movers, but so far these moves appear tentative.

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Coming up today:

• Coming up today we have European Flash Estimates, with the unemployment rate at 10.00.

• Canadian GDP follows at 13.30 with a lower rate of 0.2% expected.

• US personal spending figures follow at 13.30, with the main house price index at 14.00, Chicago PMI at 14.45  and CB Consumer confidence at 15.00.

Bet Idea:

• The US and Canadian dollars normally trade very closely together as their economies are interlinked.



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•
The USD/CAD has dropped steadily over recent weeks, but is not sitting just above support in the 1.0000 level. This could be a good opportunity to trade a rebound as the pair’s trends return to type and the USD/CAD rallies after a strong down week.

A good way to play this might be a HIGHER trade predicting
that the USD/CAD closes above 1.0025 in 7 days time for a potential return of 110%. 

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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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