BetOnMarkets Daily Market Report (6th June)
June 6, 2013 9:27 amVideo
Latest News
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Markets cautious ahead of ECB
Morning Report: 08.30 London
• This morning, financial markets are generally cautious ahead of today’s ECB meeting. Analysts mostly expect the ECB to stand pat, but there is an outside chance of further rate cuts. On the subject of rate cuts, the AUD/USD continues to weaken, hitting its lowest levels since 2011 on increased speculation that further Aussie rate cuts are in the offing. The AUD/USD is down 0.55%, with the AUD/JPY down 0.43%.
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• The yen is slipping back slightly despite the dollar index weakening.
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• Gold continues to be direction less, with the precious metal off down again this morning.
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• The British pound continues to impress, with sterling rising after Halifax House Price Index rising 0.4%.
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Coming up today:
• Coming up today we have German Factory orders due at 11.00, with a drop of 1% expected.
• We have two rate statements today, starting with the Bank of England at 12.00, followed by the ECB at 12.45. The press conference follows at 13.30.
• US unemployment claims are released at 13.30 also.
Bet Idea:
• The AUD/JPY continues to struggle, as the Australian economy reels from unravelling resour
ce boom. A future rate cut is starting to be priced in, but may not be fully priced up yet.
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• This means there may be more downside for the AUD/JPY, with a LOWER trade potentially the best way to play this. A LOWER trade predicting that the AUD/JPY will close below 0.9325 in 55 days for a potential return of 117%.
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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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