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Aussie Dollar Extends Rally

Currencies / Forex Trading Oct 13, 2011 - 07:10 AM GMT

By: Regent_Markets

Currencies

Best Financial Markets Analysis ArticleThis morning, the AUD/USD is extending the run that has seen it rally over 7.50% since the lows of September. In the same period the NZD/USD has gained 6.5% and the EUR/USD 5%. The Aussie is rallying today after better than expected employment change and unemployment data.


Elsewhere, the British pound continues to lag with the GBP/JPY down 0.27% this morning following yesterday's unemployment figures which came in above estimates.

The yen strengthening this morning following yesterday's volatility spike, with the USD/JPY down 0.28%.

The euro continues to stabilize with the EUR/USD up 0.32% this morning.

Today we have trade balance figures from the UK, Canada and the US at 09.30 and 13.30 respectively. US unemployment claims are also released at 13.30.Since the Bank Of Japan stepped in, trading against big moves from the previous day has been a successful strategy on the USD/JPY. Yesterday's spike higher provides another opportunity. We're a bit late to the game on this, with the USD/JPY already selling off, but there could still be room for further downside.

Traders at Betonmarkets thinks that a good way to play this might therefore be a LOWER trade predicting that the USD/JPY closes below 76.90 in 1 day time for a potential return of 134%.

Summary:

Dave Evans
Email: editor@my.regentmarkets.com
Url: www.BetOnMarkets.com

With BetOnMarkets, you can trade an ever increasing list of globally traded stocks, indices, commodities and forex currency pairs from one account using a uniquely LOW RISK trading platform that lets you lock in your level of risk and exact return BEFORE you commit to a trade. You can bet on over 100 currency pairs, indices, commodities and stocks with bets ranging from 30 seconds up to 360 days. You can fund your account with as little as $5 and bet for just $1 and its unique "fixed returns" service means you know exactly how much you stand to win or lose before you commit any money. If you are looking for a low cost, low risk way to participate in the markets, then BetOnMarkets is for you. Check us out now at www.BetOnMarkets.com

Disclaimer: The above is a matter of opinion and is not intended as investment advice. Information and analysis above are derived from sources and utilizing methods believed reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Do your own due diligence.

Regent Markets Archive

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