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BetOnMarkets Daily Market Report (7th September)
September 7, 2012 9:45 amVideo
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Morning Report: 08.00 London
• After yesterday’s excitement, we still have one major item to go this week with today’s release of Non Farm Payrolls. Ahead of this, traders are still buying into the Australian dollar as it rallies for the second straight day despite worse than expected trade balance figures.
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Click here to view full-sized image
• Gold is being pushed lower after better than expected US data saw money flow back into the US dollar.
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• The euro is higher this morning, but the EUR/ USD continues to lag other dollar pairs.
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Coming up today:
• We start the day with UK manufacturing production and PPI Input at 09.30, with both expected to rise compared to last month.
• The main event is US Non Farm Payrolls at 13.30, with a lower increase of 123k expected. The unemployment rate is expected to stay steady at 8.3%.
• Canadian employment data is released at the same time, with employment change, unemployment rate and building permits all out at 13.30. Canadian Ivey PMI is out at 15.00.
• UK GDP estimates are out at 15.00, with a -0.2% drop expected.
Bet Idea:
• While yesterday’s announcements were seen as good news for the euro, the euro itself has been relatively sluggish.
• Longer term, the EUR/GBP has broken its down trend, but the short term is still range bound.
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Click here to view full-sized image
• Draghi’s plans still leave a number of questions unanswered, but there should be enough to see the EUR/GBP’s longer term trend reverse.
A good way to play this might be a HIGHER trade predicting that the EUR/GBP closes above 0.80 in 30 days time for a potential return of 180%.
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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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