BetOnMarkets Daily Market Report (6th December)

Morning Report: 08.30 London

• This morning, financial markets are slipping back as the fiscal cliff deadlock continues. The euro is also under pressure after rati
ngs agency S&P declared that Greece was in ‘selective default’. 

• The dollar index is on the rise, with the euro the main casualty so far this morning.

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• Gold also continues to suffer, with the precious metal off by 0.34%.

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• The yen has started to stabilise as traders switch back into safe havens.


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• The Australian and New Zealand dollars are bucking the negative trends however Australian employment data came in ahead of estimates.


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Coming up today:

• Coming up today we have UK trade balance figures at 09.30, followed by German factory orders at 11.00.

• From 12.00 we have the latest statement from the MPC, with the ECB statement at 12.45. An ECB press conference follows at 13.30.

• Canadian building permits are at 13.30 with US unemployment claims at the same time and Canadian Ivey PMI at 15.00.

Bet Idea:

• The USD/CAD has been rangebound for the last week or so, but today’s key data points could see a shift in that position. While the US fiscal cliff represents a big unknown, there is certainly room for a downside pop.

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A good way to play this could be a ONE TOUCH trade predicting that the USD/CAD touches 0.9875 at some point in the next four days. This could return 124% 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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