Read the Daily Market Report from Dave Evans, Professional Trader
Kiwi plunges as economy contracts
Morning Report: 07.45 London• There were big falls overnight for the New Zealand dollar after employment change and the unemployment rate both came in significantly worse than expected. The NZD/USD is down over 1% since Tuesdays close and down 0.28% today.
• Coming up today, we have a brace of interest rate decisions, with the Bank of England decision at 12.00 and the ECB decision at 12.45. No change is expected from either, with the ECB press conference likely to be the more likely moving event at 12.45.
• In the afternoon, we switch to North America, with Canadian trade balance at 13.30, with US trade balance and unemployment change released at the same time.
Bet Idea:
• The EUR/JPY is slipping lower again today as Europe wobbles again. The pair has struggled to pass above support in the 104 region recently, while the yen itself is overdue an extended rally.
Morning Report: 07.45 London• There were big falls overnight for the New Zealand dollar after employment change and the unemployment rate both came in significantly worse than expected. The NZD/USD is down over 1% since Tuesdays close and down 0.28% today.Click here to view full-sized image
• The euro is also struggling this morning, with the EUR/JPY down 0.2% and the EUR/GBP off by 0.12%.
Click here to view full-sized image
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Coming up today:
• Coming up today, we have a brace of interest rate decisions, with
the Bank of England decision at 12.00 and the ECB decision at 12.45. No change is expected from either, with the ECB press conference likely to be the more likely moving event at 12.45.
• In the afternoon, we switch to North America, with Canadian trade balance at 13.30, with US trade balance and unemployment change released at the same time.
Bet Idea:
• The EUR/JPY is slipping lower again today as Europe wobbles again. The pair has struggled to pass above support in the 104 region recently, while the yen itself is overdue an extended rally.
Click here to view full-sized image
There’s downside potential here and the best way to play it could be a LOWER trade predicting that the EUR/JPY closes below 101.50 in 4 days time for a potential return of 174%.
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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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