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Date Posted: 00:48:59 05/11/12 Fri
Author: Charisse Bartoli
Subject: Markets resume downtrend on China data

This morning, markets have resumed their downtrend after some disappointing data from China overnight. Chinese PPI, fixed asset investment & industrial production all came in below estimates. In the UK, Nationwide consumer confidence also fell below estimates. Banking stocks have also come under pressure following JP Morgan's admission that a single trader has been allowed to rack up billions of pounds of losses.

Gold is the biggest mover, as the US dollar index continues its upwards trajectory.

With its strong reliance on China, the Australian dollar has been the hardest hit currency this morning, with the AUD/JPY is down 0.42%, with the AUD/USD down 0.32%.

The euro is down, but so far this seems to be more a function of the general sell off than any new specific news. It does send the EUR/USD towards new lows.

UK PPI is released at 09.30 with a drop to -0.9% expected. Canadian employment change and unemployment rates are released at 13.30. US PPI figures are released at 13.30, with prelim UoM consumer sentiment released at 14.55.

The trend following AUD/ USD is heading for new lows which creates an opportunity. The pair is just above parity, a level not reached since December. If the 1.0000 level breaks, there could be a short sharp move lower with follow up selling.

A good way to play this on BetOnMarkets.com might be a LOWER trade predicting that the AUD/ USD closes below 0.9950 in 5 days time for a potential return of 217%
 

Get this trade now, go to:  http://goo.gl/bEZ1x

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