BetOnMarkets Daily Market Report (5th June)

Read the Daily Market Report from Dave Evans, Professional Trader


	Aussie hit by Shrinking GDP Morning Report: 08.30 London • This morning the main mover is the Australian dollar. The AUD/JPY is off by 1.15%, with the AUD/USD off by 0.85%. Australian GDP came in below estimates this morning, while Goldman Sachs updated their rate call to include a cut in July as well as November. Click here to view full-sized image Click here to view full-sized image • Elsewhere, the Japanese yen continues to strengthen, with the USD/JPY off by 0.30% and the GBP/JPY just about support in the 152.50 region. Click here to view full-sized image Click here to view full-sized image • Gold is also congesting, with a breakout on the cards soon. Click here to view full-sized image Coming up today: • Coming up today we have UK services PMI at 09.30, with a rise to 53.1 expected. • From 13.15 we switch to North America, with ADP Non Farm employment changed followed by Canadian building permits at 13.30. • US ISM non manufacturing PMI follows at 15.00. Bet Idea: • The Australian dollar has broken its faster moving average on the weekly chart, but the sl ower moving average is still some way off below. This is especially the case if the earlier July RBA rate cut comes through as Goldman Sachs are predicting. Click here to view full-sized image • A good way to play this could be a LOWER trade predicting that the AUD/JPY will close below 94.5 in the next three weeks (June 27th) for a potential return of 160%. Click here to view full-sized image This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. Summary: Click here to view full-sized image

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