BetOnMarkets Daily Market Report (8th January)

Read the Daily Market Report from Dave Evans, Professional Trader


	New Year rally starting to fade Morning Report: 08.30 London • For the second morning in a row, financial markets have started the day on the back foot. The move started early in the Asian session where markets fell despite excellent results for regional giant Samsung. • The yen is on the rise again as investors switch to safer harbours. Click here to view full-sized image Click here to view full-sized image Click here to view full-sized image • The pound is the weakest currency so far today after BRC retail sales came in lower than last month. Click here to view full-sized image Coming up today: • Coming up today, we have European retail sales, and unemployment rate at 10.00, followed by Germany factory orders at 11.00. Bet Idea: • The British pound is weak this morning, especially against the Japanese yen. The yen itself has been consistently weak since the end of November, but if that trend were to break, it could break hard. • The pound is medium term over bought, while the yen is medium term over sold. We are going against a strong medium term trend here, but there is good potential for a do wnside move on the GBP/JPY here. Click here to view full-sized image A good way to play this is a LOWER trade predicting that the GBP/JPY closes below 140.00 in 3 days time could return 133% 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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