Financial markets can be a fickle friend and yesterday was no exception. After big falls on stock markets the day before, the door was open for a sustained sell off.

Instead, it seems that the Dow Jones, and several other indices such as the FTSE, had fallen just enough to tempt buyers back into the market.

The catalyst was a surprisingly robust US GDP report, which not only showed that the world’s biggest economy had returned to growth, but also that the pace of the recovery has been faster than forecast.

Some of this growth can be attributed to government spending and inflation, but markets didn’t care. Investors went on a buying spree with one market fuelling another.

As optimism flooded back into the markets, the Yen was unceremoniously dumped as investors looked for better returns in more risky assets.

The day’s biggest movers were the AUD/JPY (Australian Dollar / Japanese Yen) and the EUR/JPY (Euro / Yen). In early trading today those moves are unwinding slightly but it would take an exceptional day for all of yesterday’s gains to be eroded.

The Australian Dollar staged an impressive and unexpected recovery, wiping out all the previous day’s losses in one frenzied session.

With commodities bouncing back, it could be a good time to use Fixed Odds No Touch bets on the AUD/USD with the trigger set below current levels.

What’s moving:

The Yen: USD/JPY, AUD/JPY, EUR/JPY & GBP/JPY

Today’s market movers:

It’s a busy day out there today with a number of potentially market moving events.

However, there are two top tier events with the first being the release of the latest UK house prices from the Nationwide.

Analysts are expecting a slight dip compared to last month. Watch the GBP forex pairs for any reaction.

The second economic announcement of note is Canadian GDP. Analysts are expecting slight increase on the previous month so keep your eye on the USD/ CAD for any reaction.

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It is said that financial markets go up stairs, but down escalators and today was a good example of this.

Throughout October, markets like the FTSE 100 spent a lot of time grinding their way higher, only for these hard fought gains to be wiped out in a couple of days.

After making fresh new highs for 2009 in October, most major indices such as the FTSE, S&P500 and Nasdaq are now in the red for the month.

Financial markets have had a phenomenal run since the low points of March, but now investors are taking their gains and running to the safety of the sidelines. The main catalyst for the sell off yesterday was a surprise fall US new home sales. However, the door to a slump was already open by the time this came around.

In this ‘safety first’ climate the Yen is the favoured home for people’s money. Yesterday, the Euro and Australian Dollar were well and truly smashed against the Yen in particular.

The Euro / Japanese Yen pair (EUR/ JPY) has now reversed nearly 60% from of its move from the start of October in just four trading days and is holding around the ¥133.00 level.

The sell has shown no abatement today either with the EUR/JPY and AUD/JPY amongst the biggest fallers in early trading.

If the EUR/ JPY is going to pause, this technical level might be as good a place as any. A Fixed Odss Double (Up) trade might be a one way to play this.

Aside from the Yen, the US Dollar is holding up reasonably well and the British Pound is relatively holding its own.

Many of the key trends from last week have been reversed with surprising aggression. The New Zealand Dollar against the US Dollar (NZD/USD) is a good example of this.

What’s moving:

The Yen: USD/ JPY, AUD/ JPY, EUR/ JPY & GBP/ JPY
The New Zealand Dollar (If betting against): NZD/USD

Today’s market movers:

Today’s major economic announcements both come from the US at 12.30 GMT. First we have the latest GDP figures which are widely expected to turn positive, indicating a return to growth for the first time in over a year.

Will there be any shocks as with the recent UK GDP figures?

Secondly we have unemployment claims which are expected to show a slight dip on the previous announcement, indicating the unemployment situation is improving in the US.

Watch out for the reaction to these announcements on the Dow Jones and US Dollar pairs like the EUR/USD and GBP/USD.

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The Japanese Yen is running hot with the Dollar and Euro’s attempted rally from last week hitting a brick wall.

There are whispers that the pace of the global economic recovery will be slower than previously hoped, causing money to flood into the perceived safety of the Japanese Yen.

The biggest faller is the Australian Dollar on lower than expected inflation data. Australia was the first major western country to raise rates in over 18 months recently, causing the Australian Dollar to rise on the expectation of further rate hikes.

However, today’s inflation data poured cold water on those expectations with the Australian Dollar falling 1.3% against the Yen (AUD/JPY).

Stock markets managed to hold their ground with only limited falls yesterday. The FTSE 100 managed to cling to the psychologically important 5,200 level, but early indications are that it will open below this.

What’s moving:

The Yen: USD/JPY, AUD/JPY, EUR/JPY & GBP/JPY
The Australian Dollar (If betting against): AUD/USD
The New Zealand Dollar (If betting against): NZD/USD

Today’s market movers:

At 12.30 GMT we have US core durable goods orders. This announcement tracks changes in the value of orders for heavy machinery and other manufactured items. It’s seen as an important barometer of the US economy and could have a direct impact on the US Dollar along with US new home sales at 14.00.

At 20.00 we have a rate statement due from the Royal Bank of New Zealand. The New Zealand Dollar hit the buffers today, along with the Australian Dollar, so traders will be looking for some reassuring words from the New Zealand central bank. Keep your eye on the NZD/USD around this time.

This website content does not constitute investment advice. No individual contributor, contributing company nor Online-Spread-Betting.com accept any responsibility for any use that may be made of the content.

Last night’s slump on the Dow Jones (Wall Street) made it two 100 point losses in a row for the US index. This is the first time this has happened since June.

On the bright side, the Dow has lost just 2% from the highs reached last week. Since July there have been four similar pull backs on the Dow with the market recovering quickly each time. Should we be betting on more downside action?

Stock markets appear to be on the cusp of a trend change, but a sell off is not a certainty. Of all world stock markets, the Nasdaq 100 (US Tech 100) is holding up better than others so it might pay to keep an eye on this index in particular if markets start to recover.

On forex markets, the Dollar was running hot yesterday, especially against the Euro, (EUR/ USD) which slumped after disappointing economic data from Germany. Even the battered Pound managed to retake ground lost on Friday against the Euro (EUR/ GBP).

Keep your eye on the USD/JPY today (US Dollar Japanese Yen). The Dollar has been putting up a good fight recently and building up a good head of steam. However, we have some important news from the US at 14.00 GMT with the release of consumer confidence numbers.

The US economy relies heavily on the spending habits of its population and if the shoppers in the world’s biggest economy are too worried to splash out on ipods, it could have a direct impact on the Dollar and the Dow Jones.

What’s moving:

The Dollar (If betting against the Dollar): USD/ JPY, AUD/ USD & GBP/ USD

Today’s market movers:

At 11:00 GMT we have the release of UK CBI sales. This takes sales volume numbers from retailers and wholesalers and is seen as a good predictor of an economic turnaround in the UK. Keep your eye on the FTSE and GBP following the announcement.

Following this is the aforementioned US consumer confidence numbers at 14.00. At 15.00 Canadian central banker Carney speaks, so watch out for some movement on the USD/CAD around this time.

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Today’s currency in play is unquestionably the British Pound.

The currency is still reeling after Friday’s UK GDP data unexpectedly showed that the UK was still in a recession.

Traders hit the sell button, causing huge reversals on the GBP/USD, GBP/JPY and EUR/GBP. There has been some follow on selling in early trading and the hot money is betting that the Pound has further to fall.

Economists are divided on what Friday’s GDP data means and some still argue that the data could be revised upwards. Therefore, the Pound is likely to be volatile and overreact to any UK economic announcements, so this evening’s speech by MPC members Posen could have an exaggerated effect on the forex markets. It could idea to wait until this speech before placing any bets on the Pound.

The biggest beneficiary of the Pound’s collapse appears to be the Euro which is also making good gains against the US Dollar. Aside from the Euro, the ‘commodity’ currencies of the Canadian and Australian Dollar are also well placed for a rally this morning as crude oil nudges back towards $80.

Early indications are that it will be a positive start to the week for world stock markets like the FTSE 100 and Dow Jones (Wall Street) after a good session from Japanese stocks.

What’s moving:

The British Pound (If betting against the Pound): GBP/USD, GBP/JPY, EUR/GBP
The Euro: EUR/GBP & EUR/USD
The Canadian Dollar: USD/CAD
The Australian Dollar: AUD/USD

Today’s market movers:

At 07.00 GMT we have some consumer data from Germany which could impact the Euro.

At 13.10, Canadian central banker Carney speaks and at 18.35 we have the aforementioned speech from MPC member Posen.

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The Euro hit the headlines earlier in the week when it punched through the $1.500 level against the US Dollar.

The Dollar has an inverse relationship with oil, i.e. it goes down as oil goes up, so with crude oil making 12 months highs recently, the Dollar has been hit hard.

As money floods out of the Dollar, the currency of choice has been the Euro. One of the reasons for this has been the European Central Bank’s refusal to follow the US and UK down the path of quantitative easing, which many say has diluted the Dollar and Pound.

However, as the economic crisis subsides, there are signs that the UK and US may halt their money pumping activities. With the tap turned off, traders are starting to favour the British Pound at the expense of the Euro.

The EUR/GBP touched £0.9000 on Wednesday for the first time in a month and it could pay to bet on that level being hit again soon.

The Pound is showing strength across the board, especially against the Japanese Yen once again (GBP/JPY).

The EUR/GBP could get the momentum it needs today with a string of European economic announcements this morning along with UK GDP at 09.30 BST. GDP is an important economic measure, with the UK poised to return to positive growth for the first time in a year.

The Dow Jones (Wall Street) didn’t stay below the 10,000 level for too long yesterday as US companies, such as McDonald’s, are making better than expected profits. The Dow made a high of 10,119 earlier in the week and it could be a good bet that it will burst through this level before the week is out.

What’s moving:

The British Pound: GBP/JPY & GBP/USD
The Japanese Yen (If betting against the Yen): GBP/JPY, EUR/JPY, USD/JPY & AUD/JPY)

Today’s market movers:

From 7.45 BST there are a number of French, German and Europe wide economic announcements with German manufacturing data (ifo business climate) at 09.00 the most important. These will have a direct impact on Euro pairs. At 09.30 we get UK GDP data.

At 13.30 Fed Chairman Bernanke speaks and at 15.00 we get US existing home sales. Both of these two announcements could causes some volatility in the US Dollar.

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After all the fanfare about the Dow Jones (Wall Street) breaking through the 10,000 level last week, there was a feeling of anticlimax as the index slumped below the magical level once again.

Optimism had been running high that corporate earnings would recover quicker than expected and boost share prices. Unfortunately, yesterday showed that this optimism may be misplaced.

Support could be found at the 9939 level so it may pay to bet on some upside if Wall Street dips down to that level in early trading.

It wasn’t a quiet day on currency markets either with the Pound shooting higher after some confidence boosting comments from Bank of England governor King met with some well received MPC meeting minutes.

There were big gains for Sterling against the Dollar and the Yen and early indications are that momentum is still behind the Pound, especially in the GBP/JPY.

Keep an eye on this pair, especially around 09.30 GMT with the release of the latest UK retail sales.

Also, it might be worth having a look at the Canadian Dollar as there are a number of top tier announcements today.

What’s moving:

The British Pound: (GBP/JPY)
The US Dollar: (USD/NZD & USD/CAD)

Today’s market movers:

UK retail sales are due at 09.30 GMT. The consumer plays a large part in the UK economy so any good news here could add more fuel to the Pound’s rally.

US unemployment claims at 13.30 usually causes some excitement in the US Dollar.

Finally, watch the Canadian Dollar today with retails sales due at 13.30 and Bank of Canada action in the afternoon.

This website content does not constitute investment advice. No individual contributor, contributing company nor Online-Spread-Betting.com accept any responsibility for any use that may be made of the content.

Yesterday crude oil had its first down day in 10 days, but how does this impact the financial markets?

For starters, it had a direct impact on the so called ‘currency’ commodities; the Canadian and Australian Dollar. These two economies are big commodity producers so it is no surprise their currencies took a dive yesterday.

Picking up the baton yesterday was the US Dollar, Pound and the Yen in particular as traders looked to find a ’safer’ home for their money.

So far this morning, it looks as though the British Pound is benefiting the most from yesterday’s moves as momentum carries over to another day.

This morning we get the release of the minutes from the last MPC meeting. The MPC are the Monetary Policy Committee from the Bank of England who set interest rates.

It’s expected the minutes will show that all 9 members voted to keep rates on hold at the last meeting. However, of particular interest to traders will be any news on the so called ‘quantitative easing’ policy that they have been running for months.

Keep an eye on the Pound pairs, especially the GBP/USD and GBP/JPY around 09.30 BST, there could be some fireworks if traders pick up some hints from the minutes.

What’s moving:

The British Pound (GBP/JPY & EUR/GBP)

Today’s market movers:

Other than the aforementioned MPC meeting at 09.30, another of today’s market movers could be US crude oil inventories at 15.30 GMT.

Crude oil inventories measure the amount of oil the US has in reserve. Any significant rise in this figure could see the Canadian and Australian Dollar rise against the US Dollar.

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‘Double’ bets, where you predict whether the market will rise or fall, can be made over one day all the way up to 7 days.

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The Japanese Yen has been on the back foot these last few weeks, especially against the Australian and New Zealand Dollars.

That trend is changing today though with the Yen pushing back against all other major currencies, especially the British Pound. Optimising is running high on the Japanese stock market and this is spilling over into the Yen.

Away from currency markets, last night Apple corp, makers of the iPod, smashed analyst’s profit estimates and hit an all time new high in post market trading. The stock has almost doubled since March.

All of this is good news for US stock markets like the Dow Jones (Wall Street), but it is especially significant for the tech heavy Nasdaq (US Tech 100).

Last night’s news on Apple should see the Nasdaq burst out of the gates when markets open later. If you are looking for a fast mover today, the Nasdaq could be it.

What’s moving:

The Japanese Yen: (USD/JPY, AUD/JPY, CAD/JPY & GBP/JPY)
The Nasdaq (US tech 100)

Today’s market movers:

Today’s main market moving events come at 13.30 BST. US PPI is a measure of consumer inflation and analysts are expecting the latest number to be just above 0% at 0.1%.

Anything significantly above or below this could have a direct impact on stock markets and especially the US Dollar.

At 14.00 we have the latest rate statement from the Bank of Canada. Rates are expected to state at 0.25%.

Finally keep an eye out for the speech from Bank of England Governor King. His words could have a direct impact on the Pound, especially if he signals that the Bank of England will halt their asset purchase program.

Fixed Odds Quick Information

A breakout trade can be a good way to trade something you think will break out but don’t know in which direction. The market has to touch just one of two levels for you to win.

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The Australian Dollar has been one of the top performing currencies in 2009.

The economy has held up relatively well thanks to more stringent banking regulation and its close proximity to China. Consequently, the reserve Bank of Australia hasn’t had to resort to cutting rates to near zero like most other western economies.

Australian interest rates are the highest amongst major Western economies at 3.25% which in turn fuels further investment as investors chase the high yield.

Close behind the Australian Dollar throughout 2009 has been the New Zealand Dollar. It has not grabbed as many headlines as the Australian, but the New Zealand Dollar has still been right up there this year.

Today the New Zealand Dollar is one of the strongest performing currencies with gains of 0.65% against the US Dollar so far on Monday. In technical terms, the NZD/USD appears to be consolidating around the $0.7400 level and the 2009 highs of $0.7496 could be broken soon.

Other than New Zealand Dollar, the US Dollar is showing some strength this morning, especially against the Pound. The Pound is also starting to weaken against the Japanese Yen after two days of solid gains.

What’s moving:

The New Zealand Dollar: (NZD/USD)
The US Dollar: (GBP/USD)
The Japanese Yen: (GBP/JPY)

Trade Idea:

It could be worth looking to buy the NZD/USD with a Fixed Odds Double (Up) the next time it hits the $0.7400 level. It has managed to bounce off this level for the last three trading days.

Today’s market movers:

Today’s main market moving event is US Federal reserve chairman Ben Bernanke speaking at 16.00 BST. There is intense speculation about the status of the US Dollar as the world’s reserve currency so traders often hang on Bernanke’s every word.

Did you know?

Double trades always return 100% if you are correct.

Forex Information:

The smallest unit of movement in forex trading is known as a pip. So a move in the GBP/USD from $1.6300 to $1.6301 is a move of 1 pip.

Currency guide:

USD: US Dollar
GBP: Great Britain Pound
JPY: Japanese Yen
EUR: Euro
CHF: Swiss Franc
AUD: Australian Dollar
CAD: Canadian Dollar
NZD: New Zealand Dollar

This website content does not constitute investment advice. No individual contributor, contributing company nor Online-Spread-Betting.com accept any responsibility for any use that may be made of the content.