AUD/USD FX Spread Betting Market Rallies on Prospect of Chinese Bailout Help 0
It seems the bulls really do have the bit between their teeth at the moment.
Despite lingering doubts are about Greece’s long term future, the dips have been shallow and the mood generally positive.
Last night US stock markets closed near break even with stock market futures trading 0.52% higher this morning.
The euro FX spread betting markets are pushing higher, though lagging the commodity currencies after traders bought into the prospect of China helping the Eurozone bail out Greece.
Whether this will actually happen remains to be seen. The EUR/USD is up 0.27%.
The commodity currencies are once again on the charge with the AUD/USD, AUD/JPY & NZD/USD all up by around 0.47%. The USD/CAD is following suit, down 0.33% and trading below the 1.000 level.
The gold spread betting market is pushing higher after a couple of days of indifferent trading, up 0.43% this morning.
Trading Today
Coming up today we have UK unemployment count change at 09.30 which is expected to come in slightly higher. The unemployment rate is also expected to remain at 8.4%.
At 10.30 Bank of England Governor King speaks, with the BoE inflation report released at the same time.
From 13.30 we have a number of important US economic announcements including US Empire state manufacturing index with TIC long term purchases released at 14.00.
The minutes from the last FOMC meeting are released at 19.00.
NZD/USD Trading Idea
Last week the NZD/USD was stuck within a trading range between 0.8400 and 0.8300.
The lower range was broken on Friday and the upper range looks under threat this morning. Given the NZD/USD nature is more typically trend following than being range bound, this upper breakout may have legs.
A way to trade this might be a HIGHER trade predicting that the NZD/USD closes above 0.8450 in 2 days time for a potential return of 219%.
Editor’s note: If you lose a financial fixed odds trade you lose 100% of your stake.
The Markets Yesterday Afternoon
Yesterday afternoon financial markets were on the back foot for most of the day following the negative outlook from Moody’s in the morning.
There were a number of important market moving events throughout the day.
UK inflation figures came in below expectations, sending the GBP/USD 0.46% lower on expectations that the Bank of England will be able to keep rates on hold for a longer period.
The euro was not immune either following news that Greece’s recession has deepened. With EUR/USD down 0.35%.
It was a different story with the yen pairs though with the USD/JPY rallying over 1%. Against the yen, the euro looked fairly strong, with a gain of 0.68%.
Before trading with spread betting, CFDs or financial fixed odds ensure you only speculate with money that you can afford to lose and that you fully understand the risks involved. These products may not be suitable for all investors, seek independent financial advice where necessary.
Note that spread betting and CFD trading carry a high level of risk to your capital and you can lose more than your initial investment.
The Financial Fixed Odds update by David Evans, Market Analyst, BetOnMarkets.
This website content does not constitute investment advice. No individual contributor, contributing company, BetOnMarkets nor Online-Spread-Betting.com accept any responsibility for any use that may be made of the content.
