BetOnMarkets.com Morning Report
The FTSE, CAC and DAX are quiet this morning after
a mild recovery in late trading on US markets last night. There is unlikely to
be any significant movement until the release of UK manufacturing production at
08.30 GMT and German factory orders at 10.00 GMT.
Pair in play
The US dollar has been strong this morning,
pushing back against the euro, yen, pound and Aussie dollar. The Royal Bank of
Australia elected to keep rates on hold at 3% earlier, but this move was widely
expected so there has been little change in Aussie dollar following the
announcement.
As often happens, there was an initial spike higher on the
release of the rate decision, followed by a correcting move. That correcting
move looks set to continue and today's pair in play is the AUD/USD.
With the release of the rate statement from the
RBA, AUD/USD spiked higher, but that move is now retracing and could continue
until the lows of the day are hit.
A good way to play this might be a one touch trade predicting
that the AUD/USD will revisit today's lows of 0.7878 at any time in the next 24
hours.
With a one touch trade, the level only has to be hit once
for you to win.
