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Date Posted: 04:48:00 03/13/12 Tue
Author: Charisse Bartoli
Subject: Busy economic calendar, but markets edge higher

This morning the yen pairs are leading the early movers as the yen backs off against the US dollar. The AUD/JPY is up 0.34% with the GBP/JPY up 0.24%. The US dollar pairs are generally quieter with the NZD/USD up by 0.23%.


Running in the background today we have the latest meeting of the European economic & financial affairs council.
At 09.30 we get the latest UK trade balance figures with a widening of the deficit expected. German and European ZEW economic sentiment follows at 10.00 with an increase expected for both. ECB president Draghi speaks at 11.30.
US retail sales are released at 12.30, but perhaps the most important announcement of the day comes at 18.15 with the release of the latest FOMC statement.

The USD/JPY has rallied for five consecutive weeks since bottoming around the 76.50 region. There's no doubting that the pair can really trend when it gets the bit between its teeth but the current streak is quite unusual by historical standards. A good way to play this on BetOnMarkets.com might be a LOWER trade predicting that the USD/ JPY closes below 82.00 in 7 days time for a potential return of 199%.

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

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