Read the Daily Market Report from Dave Evans, Professional Trader
Euro weak as Portugal pushes back
Morning Report: 08.30 London• This morning, the relief over the fiscal cliff is already starting to slip, as trader’s attention returns to problems in Eur ope. The Telegraph is reporting that Portugal is preparing a legal challenge against the ‘draconian’ terms of their bailout agreement. The dollar index is rallying once again as traders switch gear back towards safer assets. The yen is also stronger on the same cautious sentiment, helping the USD/JPY to push lower.
Coming up today: • Coming up to day, we have UK construction PMI at 09.30 with BOW credit conditions survey released at the same time.
• US ADP non farm employment change follows at 13.15, with a gain of 134k expected. Unemployment claims follow at 13.30, wi th the release of the minutes from the last FOMC meeting schedules for 19.00. Bet Idea:
• The Australian dollar continues to show resilience, helped by hints that China’s growth slowdown is moderating.
• We have the NFP on Friday which could upset the apple cart or help the AUD/USD push even higher. Given the Australian dollar’s out performance in recent days, it may pay to bet on the latter.
Morning Report: 08.30 London• This morning, the relief over the fiscal cliff is already starting to slip, as trader’s attention returns to problems in Eur
ope. The Telegraph is reporting that Portugal is preparing a legal challenge against the ‘draconian’ terms of their bailout agreement. The dollar index is rallying once again as traders switch gear back towards safer assets. The yen is also stronger on the same cautious sentiment, helping the USD/JPY to push lower.
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• The euro is the main focus for selling, with the EUR/JPY down by 0.51% and the EUR/USD off by 0.31%.
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Coming up today:
• Coming up to
day, we have UK construction PMI at 09.30 with BOW credit conditions survey released at the same time.
• US ADP non farm employment change follows at 13.15, with a gain of 134k expected. Unemployment claims follow at 13.30, wi
th the release of the minutes from the last FOMC meeting schedules for 19.00.
Bet Idea:
• The Australian dollar continues to show resilience, helped by hints that China’s growth slowdown is moderating.
Click here to view full-sized image
• We have the NFP on Friday which could upset the apple cart or help the AUD/USD push even higher. Given the Australian dollar’s out performance in recent days, it may pay to bet on the latter.
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A ONE TOUCH trade predicting that the AUD/USD closes above 1.0550 by the close on Friday could return 102% 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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