Daily Market Report – courtesy BetOnMarkets 03 October 2012

Read the Daily Market Report from Dave Evans, Professional Trader
Aussie dollar plunges on trade balance data


Morning Report: 08.15 London

• There’s a negative bias in the morning’s trading after Australian trade balance came in well below estimates. The AUD/USD is down 0.56%, with the AUD/JPY down 0.46%. The NZD/USD is the day’s biggest faller, down 0.64%.

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• The EUR/USD is also struggling, with the pair down 0.15%.

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Coming up today:

• Coming up today we have UK services PMI at 09.30.

• European r etail sales follow at 10.00.

• The main event for the day will be US ADP Non Farm Employment change at 13.15, with ISM non manufacturing PMI at 15.00.

Bet Idea:

• The NZD/USD is falling along with the Australian dollar this morning, with the pair having out performed the Aussie in recent weeks by some margin. However, if support in the region of 0.8170 breaks, there could be significant downside to come.


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A good way to play this might be a LOWER trade predicting that the NZD/USD closes below 0.8175 in 3 days time for a potential return of 144%.

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Daily Report – courtesy BetOnMarkets 02 October 2012

Below is the Daily Market Report from Dave Evans, Professional Trader Provided by BetOnMarkets

Australia cuts rates to spur growth

Morning Report: 08.30 London

• The main mover this morning is the Australian dollar, after the RBA unexpectedly cut its benchmark interest rate by 0.25%. It is hoped that the move will rejuvenate the flagging Australian mining sector. Analysts were expecting no change today, so the Antipodean pairs have fallen hard as a consequence. Also this morning, the main UK House Price Index came in below estimates, while Spanish unemployment change rose to its highest level since March.

• The AUD/USD is down 0.55%, the AUD/JPY down 0.53%, with the NZD/USD down by 0.31%.

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Coming up today:

• Coming up today we have UK construction PMI at 09.30 with a rise to 50.0 expected.

Bet Idea:

• The Australian dollar has been coming off the boil for some time and this morning’s rate cut may push things lower again over the coming weeks. As the weekly chart below shows, the AUD/USD has room to fall further.

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A good way to play this might be a LOWER trade predicting that the AUD/USD closes below 1.0200 in 14 days time for a potential return of 226%.

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