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Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

Currency Markets Start Week on Back Foot

Currencies / Forex Trading Nov 21, 2011 - 05:02 AM GMT

By: Regent_Markets

Currencies

Best Financial Markets Analysis ArticleThis morning we're seeing markets start with a familiar cautious tone. The weekend news flow didn't throw up any big negatives, but hasn't been any big positives either. The Yen and US dollar are the currencies in demand so far this morning with the biggest mover being the AUD/JPY which is down 0.55%. The GBP/JPY isn't far behind at -0.43% this morning.


The euro is weakening as the morning progresses with the EUR/USD down 0.31%.

The yen is edging the dollar once again with the USD/JPY down 0.10%. Stock markets are leading sentiment lower with the S&P 500 futures off by 0.68%.

We're fairly light on the economic news front this morning with the only top tier announcement being Canadian existing home sales due at 15.00. Before this we have European current account at 09.00 and Canadian wholesale sales at 13.30.

While the EUR/JPY is sitting right on support at 103.50. If this breaks, the next stopping point may not be until just about 102. Any moves could be short and sharp (if they do come) because there is always the potential for the Bank Of Japan to step in or European officials to release their latest grand plan to end all grand plans.

Thus according to the experts at BetOnMarkets, the best way to play this may therefore be a ONE TOUCH trade predicting that the EUR/JPY touches 102 in the next 1 day (by the close tomorrow) could return 142%.

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.

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