BetOnMarkets Daily Market Report (7th June)

Yen strengthens at expense of US dollar

Morning Report: 08.30 London

• This morning, the Japanese yen is dominating early FX moves, with the USD/JPY trading near the 95.5 level, its lowest level since April. The Yen strength is primarily due to comments from Japanese Finance minister Aso who stated that officials would not be intervening any time soon. The AUD/JPY is once again the biggest mover as Aussie weakness runs up against yen strength.

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• Elsewhere, Gold has a positive edge ahead of today’s Non Farm Payrolls meeting.



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• The euro is also recovering some ground as a reaction to Draghi’s comments that the ECB would not be easing any time soon.



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Coming up today:

• Coming up today, we have UK Consumer inflation expectations and UK trade balance figures at 09.30.

• From 13.30 we switch to the day’s main event, with US Non Farm Payrolls expected to rise slightly to 167k. Canadian jobs data is released at the same time.

Bet Idea:

• The Australian dollar continued to tumble, with early weakness again this morning. we can
certainly expect more volatility today as traders react to US Non Farm Payrolls. The Aussie has dropped significantly in recent days/weeks, but with some research firms putting a 0.9300 price target on the Aussie, we could have more downside in coming weeks.



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A good way to play this could be a LOWER trade predicting that the AUD/USD TOUCHES 0.9300 within 14 days could return 106% 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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