05/04-12   -   Press releases

Aussie dollar leads fallers after Fed disappointment

Last night markets plunged on the release of the minutes from the last US Federal reserve meeting. Markets were hoping for some strong hints of plans for further quantitative easing from the FOMC, but were left disappointed. The US dollar rallied strongly into the evening and the selling pressure has continued this morning.

Australian trade balance data heaped more concern on financial markets in the early hours of the morning, by coming in well below estimates. The AUD/JPY is down 0.59%, with the AUD/USD down 0.44%. Yen pairs are under the most pressure as demand for safe havens increase. The EUR/JPY is down 0.43%, with the GBP/JPY down 0.33%. The USD/JPY is down 0.18%.

The biggest casualty last night was gold, which plunged as investors switched back into the US dollar. The pound and euro continue to show signs of stress, with the EUR/USD down 0.27% and the GBP/USD down 0.17%.


We´ve an extremely busy day today, starting with UK Halifax Price data at 08.00. The UK data continues at 09.30 with the release of Services PMI. Europe comes under focus starting at 10.00 with European retail sales at 10.00 and German factory orders at 11.00. European interest rates are released at 12.45 with the follow up press conference at 13.30. The press conference is likely to be be more market moving.

From mid day, the focus turns to the US with ADP Non Farm Employment Change figures acting as a warm up to Friday´s big job report. ISM Non Manufacturing PMI numbers are released at 15.00.

With today´s heavy calender, we have the potential for some heavy follow through selling or rapid rebounds. One pair to focus on is the AUD/JPY which has a strong trend following bias, which could mean more downside to come.

A good way to play this on BetOnMarkets might be a LOWER trade predicting that the AUD/ JPY closes below 84.50 in 1 days time for a potential return of 266%. There does seem to be some support at 85.00, which is a risk factor, but if this breaks, there move lower could be damaging.


Get this trade now: http://goo.gl/qPvN0