Morning Report: 07.00 London • Markets are thankfully quiet this morning after a weekend of relative calm from the UK. The Conservative government looks to be settling into a leadership contest, while chancellor Osborne outlines his 5 point post Brexit plan which includes cuttingcorporation tax to 15%. There is still much uncertainty, but markets appear more comfortable with the unknowns.The pound is largely unchanged this morning.
• The euro continues to capitalise on the Brexit result, holding on to gains made in recent weeks.
• The USD/JPY has nudged up as risk appetite increases slightly, with the US dollar slipping lower with investors no longer needing such safe havens.
• The Australian dollar continues to hold up well despite a hung parliament following recent elections.
Coming up today:
• Coming up today we have UK construction PMI at 09.30. • We also have a US bank holiday today which may reducevolatility.
Trade Idea:
• This morning, Silver has broken $21 for the first time since July 2014, outstripping its sister commodity gold by some margin recently.
Disclaimer: This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
Markets Quiet as Osborne Lays Out 5 Point Plan
Morning Report: 07.00 London
• Markets are thankfully quiet this morning after a weekend of relative calm from the UK. The Conservative government looks to be settling into a leadership contest, while chancellor Osborne outlines his 5 point post Brexit plan which includes cutting corporation tax to 15%. There is still much uncertainty, but markets appear more comfortable with the unknowns.The pound is largely unchanged this morning.
• The euro continues to capitalise on the Brexit result, holding on to gains made in recent weeks.
• The USD/JPY has nudged up as risk appetite increases slightly, with the US dollar slipping lower with investors no longer needing such safe havens.
• The Australian dollar continues to hold up well despite a hung parliament following recent elections.
Coming up today:
• Coming up today we have UK construction PMI at 09.30.
• We also have a US bank holiday today which may reduce volatility.
Trade Idea:
• This morning, Silver has broken $21 for the first time since July 2014, outstripping its sister commodity gold by some margin recently.
However, there are signs of stability across politics and global markers which may reduce demand for the precious metal. In addition, silver has a history of at least pausing after rapid rallies such as this.
A good way to play this is a LOWER trade predicting that silver will close below $19.50 in 25 days for a potential return of 202%.
Disclaimer: This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.
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