Brazil v Croatia, 12 June 2014
Brazil’s World Cup
The FIFA World Cup is considered the most widely watched sporting event internationally, with even more viewers than the Olympic Games. The World Cup draws to a serving host nation thousands of visitors and millions of dollars into the nation. The 20th FIFA World Cup is hosted this year by the most successful team since its inception – Brazil. This year’s World Cup is expected to bring to Brazil R$25 billion (US$11.2 billion) in revenue and over half a million of visitors1. The South American nation had much to prove with fevered excitement on the opening game against European nation, Croatia.
The EUR/USD Match Up
With odds paying 3.75 on Sportsbet for Brazil to take the Cup and Croatia at odds of 176 at the same spot, most knew it would be a challenging match up for the red and white checked team. As one of the 13 European teams in this year’s tournament, let’s have a fun look at how the Croats fared in the world market’s eyes during the match up.
Looking at the chart above, you can see a last minute peak in the volume bars as it seems everyone wanted to get their last minute trades in before the game. It looks like with World Cup fever hitting the world over, trade volumes have already started to taper off.
Immediately, the game begins with the Euro falling along with its chances in this game. It soon surges and rises with hope after the own goal and Croatia takes the lead in the first fifteen minutes of the match. After the equaliser by Brazilian Naymer, sentiments seem to decline along with their winning outlook. As the match nears the end and Brazil’s win seems cemented, traders come back and start trading again.
Indicator from the Vantage FX Smart Trader Tools set of MT4 add ons.
Game over and the outlook appears to show that all will return as usual. Our sentiment trader above shows the bullish attitude returns with positive outlooks for the Europeans.
Until next time, enjoy the games and happy trading!
About MXT Global
MXT Global (MXT) is a financial services provider that aims to offer the best combination of customer service, online Forex trading technology and the tightest spreads in the market. We offer Australian and international traders access to popular trading platforms such as MetaTrader 4 (MT4), both PC and Mac, and desktop-free solutions such as mobile and Webtrader. MXT Global Pty Ltd (MXT) ACN 157 768 566 is regulated as a financial services provider by the Australian Securities and Investments Commission (ASIC) under Australian law (AFSL 428901).