BetOnMarkets Daily Market Report (7th May)

Read the Daily Market Report from Dave Evans, Professional Trader


	Aussie slumps as rates hit record low Morning Report: 08.00 London • This morning the Australian dollar is selling off heavily after the RBA voted to set rates at a record low level. The AUD/JPY leads the fallers and is down 0.78% with other Aussie pairs following suit. Click here to view full-sized image Click here to view full-sized image • World markets are pulling back from the highs set last night after ECB president Draghi re-affirmed the ECB position of doing whatever it takes to get the eurozone back of track (including further rate cuts). This helped markets reach for the highs, while the euro softened. Click here to view full-sized image • Gold is reversing again as commodities swing lower on fears of an Australian slow down (which by proxy could infer a Chinese slow down). Click here to view full-sized image Coming up today: • Coming up today, we have German factory orders at 11.00. • The only other item of note is US treasury secretary Lew speaking at 21:00. Bet Idea: The AUD/JPY is on the back foot today and that could continue for a few days as we enter what is traditionally the worst six months of the year for stock markets. Click here to view full-sized image • A LOWER trade predicting that the AUD/JPY closes below 100.75 in 3 days time could return 119% if successful. 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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