BetOnMarkets Daily Market Report (3rd August)
August 3, 2012 9:50 amVideo
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Kiwi leads cautious rebound
Morning Report: 08.15 London
• Markets have a bullish edge this morning, as traders look to unwind some of the reaction (over reaction) to yesterday’s ECB press conference. This morning’s reaction will be tentative, as we have small matter of US Non Farm Payrolls to come at 13.30. The US dollar index is slipping lower after pushing back towards the highs yesterday.
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• The NZD/USD and AUD/USD are leading the rebound this morning, though there is little movement to speak of away from these currencies with the exception of the USD/CAD, another commodity currency which is moving down by around 0.2%.
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Coming up today:
• Coming up today we have UK services PMI at 09.30 with a rise to 51.6 expected.
• European retail sales follow at 10.00.
• We then have the day’s main event; US Non Farm Payrolls at 13.30 with a rise to 101K expected. The unemployment rate is expected to remained unchanged at 8.2%.
• ISM
Non manufacturing PMI follows at 15.00.
Bet Idea:
• World markets sank yesterday ahead of today’s Non Farm Payrolls, something that could bode well for today’s market. In four of the last five occasions that markets dropped before NFP, stock markets rose the next day. As a key barometer of risk, the
AUD/JPY could be a key pair to focus on here. Despite the recent bearish pressure, the AUD/JPY has held its recent gains well and could be well primed for a pop higher if the NFP trend continues.
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A good way to play this might be a HIGHER trade predicti
ng that the AUD/JPY closes above 82.75 on Monday (3 days) for a potential return of 144% 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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