BetOnMarkets Daily Market Report (31st May)

Yen poised for breakout

Morning Report: 08.30 London

• This morning, the Japanese are showing early momentum after Japanese core CPI came in above estimates. The main mover is the AUD/JPY as commodity currencies come under pressure.

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• The USD/JPY looks poised for a downside breakout, helped by the dollar’s recent weakness.

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• The AUD/USD is down 0.48%, with the NZD/USD off by 0.38%.



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• Meanwhile the British pound is weak despite consumer confidence coming better than expected.



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Coming up today:

• Coming up today we have UK net lending to individuals at 09.30.

• This is followed by European flash CPI estimate, with the unemployment rate expected to remain steady at 12.2%.

• Canadian GDP is released at 13.30, followed by US personal spending, Chicago PMI at 14.45 and revised UoM consumer sentiment at 14.55.

Bet Idea:

• With the major yen pairs poised for a breakout, we could see further significant downside
for the AUD/JPY.



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A good way to play this could be a LOWER trade predicting that the AUD/JPY closes below 96.25 in 5 days for a potential return of 291%.

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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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