BetOnMarkets Daily Market Report (7th March)

Pounds dips ahead of MPC meeting

Morning Report: 08.30 London

• This morning, markets are generally cautious ahead of rate statements from the ECB and MPC. The Euro is the performing well ahead of the big meetings, especially against the pound which is subdued this morning.

• The EUR/JPY, EUR/USD and EUR/GBP are all up around 0.3%.


                         

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• The dollar index is dropping back f
rom the highs as investor sentiment flips leans towards the positive. The Australian dollar is performing well in this environment with the AUD/JPY up 0.38% and the AUD/USD up 0.34%.

              
             

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Coming up today:

• We’ve a busy day today, with German factory orders at 11.00, followed by the MPC rate statement and press conference.

• The ECB release their rates at 12.45, though its the press conference at 13.30 that could cause the most excitement.

• Spanish and French 10 year bond auctions are scheduled to take place throughout the day.

• Canadian building permits and trade balance figures are also released at 13.30, as are US trade balance and unemployment claims.

• Later this evening at 21.30, we have the release of US bank stress test results.



Bet Idea:

• Momentum certainly seems to be with the AUD/JPY at the moment, and there could be more upside to come in the short term.

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A HIGHER trade predicting that the AUD/JPY closes above 96.75 on Friday could return 135% 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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